Our services
We make any asset investable
Blackbull specializes in converting private equity and alternative assets into bankable, transferable Certificate Notes with their own ISIN, accessible to qualified investors in the regulated capital markets.
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Turn your asset or opportunity
into an investable proposition.
Services
From asset to ISIN
We financial engineer any traditional or alternative asset to make it investable, specializing in converting private equity, illiquid, and non-bankable assets into Certificate Notes - bankable, transferable instruments with their own ISIN, held directly in an investor's bank account.
Core service
Certificate Notes
We make any asset investable
A Certificate Note is a bankable, transferable security issued against your asset or strategy. It carries its own ISIN, settles through the regulated international clearing and settlement system that banks already use, and can be deposited directly into an investor's bank account like any other holding.
This is how a company's private equity is made investable. How a Ferrari collection becomes a portfolio line. How a music catalogue becomes subscribable. How a superyacht's charter income becomes a cashflow-backed instrument. How a sports team raises capital. How art and luxury collections can be leveraged. The underlying assets change; the mechanism does not.
At a glance
- InstrumentAMC / CLN / Tracker
- IdentifierISIN
- Held viaInvestor bank account
- TransferableYes
- ValuationIndependent
- UnderlyingAny asset of value
- InvestorsAsset managers & qualified
- EnvironmentFully regulated
Selected mandates
Certificate Notes we have engineered
Also available
Further services
Meeting global funding sources
Meet qualified capital sources in person, one-on-one, to discuss the funding of your company. Every introduction is drawn from a global network of private and institutional investors.
That network spans Europe, USA, and Asia, with combined managed assets above USD $100bn, and we guarantee the sources you meet are both qualified and interested.
- Europe · USA · Asia
- $100bn+ network
- One-on-one
- Qualified sources
Getting listed cost-effectively
A pay-as-you-go route to a capital market listing. We begin by matching your company's qualifications against the listing suitability of targeted exchanges, so you only pursue venues that fit.
You then select your preferred venue from those that matched, and Blackbull processes and executes the listing on it, keeping the cost to what the outcome genuinely requires.
- Pay-as-you-go
- Suitability match
- Venue selection
- Processed & executed
Feasibility
Not sure your asset can be wrapped
into a certificate note?
Ecosystem
Licensed and Regulated
Operating within a licensed and regulated ecosystem, Blackbull facilitates the advisory, financial engineering, asset management, issuance, and distribution of its investment products, providing confidence and security to both clients and investors.
The platform
The Structured Capital Platform
Blackbull is an official partner of the Structured Capital Platform, the layer that connects asset management, financial engineering, product issuance, and product distribution across a group of specialist member entities, each handling one part of a transaction so that the whole remains institutional-grade end to end.
Affiliated Institutions
Capital markets & Financing Institutions
Blackbull instruments are admitted, listed, traded, and financed across a network of traditional exchanges, OTC markets, digital venues, and financial institutions. Our affiliations include institutions such as SIX SIS, Euroclear, Swissquote Bank, Incore Bank, ISP Securities, Kraken, and more, so each mandate can be placed where it genuinely belongs.
The Circle
Private Capital Network
About
Who we are
Blackbull is a boutique capital advisory and financial engineering firm turning private, illiquid and non-bankable assets into investable instruments. Leveraging our private capital markets network, backed by a team of senior executives with a footprint across six continents and more than twenty years of transactions engineered, Blackbull specializes in making any assets investable.
People
The team
A 30-year track record in investments, capital markets and policy across 30+ countries. Co-founded The Maestro Group, advised U.S. Senator Max Baucus, and spent thirteen years at UBS.
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Focused on structured products, digital-asset listings and securitisation across the certificate programmes. A 2018 World Blockchain Summit speaker and an Edinburgh engineering graduate.
LinkedIn ↗
A valued member of the advisory board for Asia, instrumental in building the firm's relationships across the region and a fixture at its early engagements. Remembered with deep gratitude.
Advisor for Asia with decades of chief-of-staff experience to senior executives and board members across finance, transportation, mining and technology, and Asian-European market transactions.
Advisor for North America in international trade and government relations. Chairman of Jinboast E-Commerce Tianjin, former CEO of the Global Trade & Technology Center, and an NYU MPA.
Global footprint
Where we have been active
Status: 2026
Cities with more than one entry are outlined in gold — click one to zoom in. Click a category above to filter the map.
In their words
References
News
Issuances & announcements
Selected mandates, launches, listings, and completed transactions engineered by Blackbull. This is a running record of corporate news, investment instruments, and capital market admissions delivered for clients across Europe, the Americas, Africa, and Asia.
Guides · Launching & distribution
How to launch an AMC for your strategy
Launching an AMC is a project with a clear path: decide the structure, choose the issuer, prepare the documents, onboard, obtain the ISIN, and open for subscriptions. Here is the path, step by step.
Before you start
Three questions shape everything that follows. What will the certificate hold? Listed assets are simplest. Private or physical assets need valuation and custody solutions. Who will invest? Professional investors only, or wider, which changes the documentation. How large will it be? Expected size determines whether the fixed costs make sense and which issuers are suitable.
The launch, step by step
- FeasibilityWe look at the asset or strategy, the investors and the size, and recommend a wrapper: AMC, tracker or CLN.
- Structure & Launch agreementDeliverables, timeline and costs are agreed in writing.
- StructuringChoice of issuer and service providers, term sheet, investment guidelines, fees and valuation method.
- OnboardingThe issuer's compliance reviews the manager, the beneficial owners and the underlying assets.
- Documentation and ISINFinal terms, any key information document, and the ISIN is assigned.
- Settlement set-upPaying agent, custody and clearing are connected so banks can book the certificate.
- LaunchThe certificate opens for subscriptions and the first valuation is published.
What you will need
- Corporate documents and licences of the manager.
- Know-your-customer documents for the beneficial owners.
- Investment guidelines and a description of the strategy.
- For non-listed underlyings: title documents, valuation reports, custody and insurance arrangements.
- A track record or business plan, used by the issuer and later by investors.
Costs and timeline
The costs are a one-off structuring and issuance fee, then running fees for the issuer, the paying agent, custody and calculation. Blackbull sets out deliverables, timeline and costs in a single Structure & Launch agreement before work begins, so there are no surprises. Liquid strategies launch fastest. Strategies on private or physical assets take longer, because valuation and custody have to be agreed with the issuer first.
Example of our structuring work · Live issuanceNETWRK Capital Index AMC, designed by Blackbull, goes liveThe NETWRK Capital Index AMC, designed and engineered for a Swiss crypto asset management firm, is officially live and ready for subscriptions. Read the release →
After launch
The manager runs the portfolio within the guidelines. The calculation agent publishes the certificate's value at the agreed frequency, and the paying agent handles subscriptions and redemptions. Distribution, meaning presenting the certificate to banks, asset managers and family offices, is what turns an ISIN into assets under management. Blackbull supports this with marketing material and introductions.
General information only. This is not financial advice. See the important information at the foot of this page.
Blackbull in practice
Recent launches
Examples of Blackbull’s structuring work, shown for illustration only. They are not an offer, a recommendation or an invitation to invest in any of these instruments.
NETWRK Capital Index AMC, designed by Blackbull, goes live
The NETWRK Capital Index AMC, designed and engineered for a Swiss crypto asset management firm, is officially live and ready for subscriptions.
Read the announcement →
ES Core Index AMC, designed by Blackbull, goes live
The ES Core Index AMC, designed and engineered for Exponential Science Capital — an organisation focused on accelerating the widespread adoption of exponen…
Read the announcement →
Anker Technology Index AMC, designed by Blackbull, goes live
The Anker Technology Index AMC, designed and engineered for Swiss investment boutique Anker Capital AG, is officially live.
Read the announcement →What is the minimum size for an AMC?
There is no legal minimum, but fixed costs make very small certificates uneconomic. The expected size is discussed at the feasibility stage.
Do I need my own licence?
Issuers and banks will expect the portfolio manager to be appropriately licensed or supervised in its jurisdiction.
Can Blackbull find investors?
Blackbull supports distribution through marketing material, roadshows and its network, including The Blackbull Circle. Subscriptions always depend on investors' own decisions.
Sources
- ISO 6166, International Securities Identification Number (ISIN).
- Swiss Financial Services Act (FinSA), in force since 1 January 2020.
Important information. This guide is not financial advice. It is general information about how certain financial instruments work. It is not investment, legal or tax advice, and it is not an offer or a solicitation to buy or sell any security. Certificate Notes are complex instruments: their value can fall as well as rise, investors can lose some or all of the amount invested, and they are exposed to the credit risk of the issuer. Many are available only to professional or qualified investors, and the rules differ by country. References to Blackbull mandates and launches illustrate our structuring work, are shown for illustration only, and are not an indication of future results. Blackbull Equities provides advisory and structuring services; it does not itself issue securities, accept deposits or manage client assets. This website is not directed at persons in any jurisdiction where its content would be unlawful, including the United States. Seek independent professional advice before making any investment decision.