Underwriting written for the market it operates in

Real Estate

Income-producing and repositioning assets in Latin American urban corridors and coastal markets, underwritten on replacement cost and local currency dynamics.

• Direct and co-investment positions in residential, hospitality and mixed-use assets.
• Structures built around title diligence, currency exposure and repatriation mechanics.
• Hold periods sized to entitlement, construction and stabilisation timelines.

Energy & Resources

Upstream and midstream exposure across hydrocarbons and adjacent resource infrastructure, with disciplined attention to sanctions, licensing and counterparty risk.

• Exposure assessed against regulatory posture and sanctions guidance at the time of underwriting.
• Preference for cash-generating assets with contracted offtake.
• Country risk priced explicitly rather than assumed away.

Technology

Growth-stage regional platforms with defensible distribution, unit economics that survive a downturn, and a credible path to cash generation.

• Secondary and primary positions in category leaders.
• Diligence anchored in cohort behavior and contribution margin.
• Governance and information rights treated as non-negotiable.

Fintech

Payments, credit and banking infrastructure serving under-penetrated Latin American consumers and small businesses.

• Credit books reviewed at the vintage level, not the headline level.
• Regulatory licensing and capital adequacy reviewed before entry.
• Emphasis on deposit and payment franchises with durable funding.

Gold & Hard Assets

Physical and hard-asset exposure held as ballast against currency debasement, capital controls and regional political volatility.

• Custody, assay and chain-of-title verified before allocation.
• Sized as a portfolio stabiliser rather than a return engine.
• Reviewed against real rates and regional currency stress.