Our Expertise
What We Deliver
Impartial, evidence-based advisory across two core disciplines — grounded in decades of hands-on experience inside major global banks.
Bank Balance Sheet Advisory (SRT)
Balance Sheet Optimization through proven risk transfer strategies.
Significant Risk Transfer (SRT) is a transaction in which a bank transfers the credit risk of a defined pool of loans — typically the first-loss or mezzanine tranche — to third-party investors via credit-linked notes or synthetic guarantees, without selling the underlying assets. This reduces the bank's regulatory capital (risk-weighted assets) while investors earn a premium for absorbing that risk. Capital efficiency without harming client franchise.
Market Context
Global SRT issuance hit a record $41 billion in 2025, up from $29 billion in 2024. Total outstanding placed tranches stand at approximately $70 billion globally, referencing nearly $1 trillion in underlying loans. The asset class has grown at roughly 18% annually since 2010, and U.S. banks now account for 31% of global issuance following Federal Reserve approval of SRT deals in late 2023. As of June 2026, over 270 banks globally have executed SRT transactions.
- Portfolio identification and suitability assessment for risk transfer
- Transaction structuring aligned with capital and concentration-management goals
- SRT fund universe mapping — over 40 active funds globally
- Investor identification, engagement strategy, and targeted outreach
- New product approval documentation, external legal counsel documentation, and internal stakeholder support
- Repeatable framework design: portfolio selection, structural standardisation, governance readiness
- "Stranded Asset" porfolio risk assessment and mitigation advisory covering Physical Risk and Climate Risk impacts meeting current and upcoming increased focus on these risks related to lending portfolios
We position our role at the intersection of capital strategy, transaction structuring, and execution readiness. We bring the external skills and — importantly — the external perspective often needed to move transactions through internal stakeholder approval.
Carbon Market Advisory
Navigate the evolving global carbon landscape with confidence.
Carbon as a distinct asset class now represents a new revenue opportunity for banks while creating challenges due to the fragmentation and still-developing nature of the market. Our firm has extensive deal experience across Sovereign Carbon Securitization (SCS), Voluntary Carbon Credits (VCC), Green Bonds, Carbon Insurance, Renewable Energy Credits (REC), and CORSIA Credits.
Transaction History
We have a history of advising on Green Bonds in Indonesia; Sovereign Carbon in Bolivia and the Bahamas; VCC projects in Rwanda, Brazil, El Salvador, and New Zealand; Renewable Energy (Solar/Wind) and RECs in Mongolia and Canada; and most recently advising a major APAC airline on CORSIA carbon credit purchases.
- Sovereign Carbon Securitization (SCS) — structuring and bank selection
- Voluntary Carbon Credit (VCC) project advisory
- Green Bond issuance and documentation
- Carbon insurance and risk cover structuring
- Renewable Energy Credit (REC) frameworks
- CORSIA compliance credit advisory
- Regulatory and policy landscape monitoring
Our firm works directly with government environmental teams with whom we maintain relationships on an ongoing advisory basis advancing carbon finance methods. This positions us to optimally structure the carbon transaction and early in the process engage partner banks to fulfill the placement of securities in the case of Soveriegn Carbon Notes.
The inaugural Sovereign Carbon Security transaction was 4.2 Billion USD for Bolivia, announced at COP29 in Baku. Achieving net zero by 2050 will require $25 trillion in aggregate new issuance of carbon-linked instruments — representing an annual global revenue potential exceeding USD 4 billion per annum for banks.