Client notes

“They came to the plant before they came to the numbers. The first question was about the cold chain and the second was about the welfare audit. The offer arrived eleven days later and the terms did not move afterwards.”

Chief executive, veterinary biologics manufacturer, Oceania

A control investment by the Private Equity division in a vaccine manufacturer supplying cattle and aquaculture producers, taken in 2022.

“I sold a business in a sector they already understood, so I did not have to explain it twice. What I valued more was being told in writing which parts of the mandate a model touches and which parts a person decides.”

Family principal, private wealth client, Caribbean

A family relationship established in 2023 covering consolidated reporting and co-investment alongside two divisions. The principal had previously used two banks.

“Our working capital moves with the harvest cycle, and most lenders price that as a defect. The facility they wrote follows the biomass, and the covenant is tested quarterly rather than monthly. It has survived two poor seasons.”

Finance director, aquaculture group, Latin America

A structured working-capital facility from the Commercial Finance division, first drawn in 2023, renewed twice since and sized each year against the harvest schedule of two coastal sites.

“We onboarded them in the Gulf and asked for the group policy on sanctions screening. They sent the policy, the local variation and the name of the officer who owns it. The file was complete at the first request.”

Head of correspondent banking, regional bank, Middle East

A correspondent relationship opened in 2024 covering payments and treasury settlement for three Gulf entities of the group.

“They put the timetable for conversion in the term sheet and told us what loss they were prepared to accept. Nobody had ever shown us that second number. It made the negotiation shorter and the board meetings quieter.”

Founder, pharmaceutical research company, Europe

A minority investment made in 2024 by the Private Equity division in a research company with two approved products and one in registration.

“The diligence on provenance was harder than any audit we have been through. Every dataset had to show its origin and its lawful basis. We closed four gaps before completion and the business is worth more for it.”

Chief data officer, agricultural data company, North America

A deployment investment through the Information and Data division in 2025, following a provenance review of eleven datasets.

“The welfare standards came with the money. They were written into the documents, audited in the second year, and the auditor was not the person who signed the cheque. Our own buyers now ask us for that report.”

Group treasurer, livestock producer, Africa & Indian Ocean

A commercial finance facility and a minority position, both taken in 2024 through the Port Louis platform and both audited for welfare in the second year.

“We allocate to specialists and we test the reporting first. Their quarterly pack reconciles to the valuation file, and the marks on unquoted positions carry the signature of a named officer. That is rarer than it should be.”

Head of manager selection, institutional investor, Asia-Pacific

An institutional mandate awarded in 2025 after a six-month operational review of the Singapore hub and its administrators.