The Firm

Goals

Six goals the Board has set for the institution, each with a horizon and a measure by which it will be judged.

A client portfolio of US$1.5 billion

The client portfolio under stewardship stood at US$842 million at 30 June 2026, against US$38 million at the end of the first year. The target for 2032 is US$1.5 billion. It is to be reached through mandates from institutions, intermediaries and families in the sectors the group already originates in, and not by acquiring another manager.

2032 · Client portfolio under stewardship at each year end, reported in US$ million.

Forty jurisdictions of domicile or registration

The group holds a domiciled or registered entity in 28 jurisdictions. Twelve more are to be added by 2032, in the order set by the Expansion Committee and only where the local regime, the counterparty network and the treatment of cross-border income support a permanent presence. A registration that stops earning its cost is surrendered.

2032 · Jurisdictions holding an operating domiciled or registered group entity at each year end.

Fifty offices and representative desks

The group works from 36 cities, ranging from the group headquarters in George Town to representative desks of two people. Fourteen further openings are planned by 2032, and six existing desks are to become offices. Every opening is reviewed against its approved case after twelve months, and the count is taken at the year end.

2032 · Offices and representative desks open at each year end, counted by city.

A group of 480 people

The group employed 312 people at 30 June 2026, having started with nineteen. The plan reaches 480 by 2032. Growth is weighted towards origination, risk and compliance rather than administration, and no office opens until a named lead has been appointed to run it and to hire into it.

2032 · People employed by the group at each year end, excluding contractors and secondees.

A welfare audit on every life-science position

Welfare in biological capital is the fifth principle of the Ethical Technology Charter. Twenty-two of the 47 portfolio companies and positions are life-science positions, and nineteen of those carry a completed welfare audit. The remaining three are to be audited during 2027. No new life-science position is committed without an audit scheduled.

2027 · Completed welfare audits as a share of life-science positions held, target 100 per cent.

Every phase of Programme Latitude funded from realised proceeds

Programme Latitude carries US$180 million of investment across seven phases between 2026 and 2032. Each phase is paid for out of realisations. The group raises no new external capital for expansion, uses no client money for it, and does not draw on the US$215 million of committed but undrawn facilities to fund a phase.

2026 to 2032 · Share of programme investment funded from realised proceeds, target 100 per cent.