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.
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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 · By asset
Music rights as an investment: royalties and AMCs
Every stream, broadcast and sync placement pays someone. Music rights produce long-lived income that has little to do with the stock market, and a certificate can put that income into an investor's bank account.
The two kinds of rights
A recorded song carries two separate sets of rights. The master is the recording itself, usually owned by a label or the artist. The publishing is the underlying composition, the melody and lyrics, owned by songwriters and their publishers. Each earns its own royalties, and each can be bought, sold or financed separately.
Where the money comes from
- Streaming, now the largest source of recorded-music revenue.
- Performance: radio, TV, venues and public places, collected by collecting societies.
- Mechanical: reproduction of the composition in streams, downloads and physical copies.
- Synchronisation: licences for films, series, games and advertising.
How catalogues are valued
Catalogues are usually valued as a multiple of their net annual income, adjusted for the age of the catalogue, how quickly its earnings decay, how diverse the income is and how much is left after the artist's and other parties' shares. Older catalogues with steady income tend to be valued more highly than new releases, whose income often falls sharply after the first years.
Putting music in a certificate
An AMC can hold a portfolio of royalty interests, catalogues or financing positions, managed by a specialist who buys, sells and finances rights within its guidelines. Investors receive the value of the portfolio through a single ISIN. A CLN can instead finance a catalogue owner or an artist against future royalties.
Example of our structuring work · MandateBlackbull engineers AMC for the 38 Talent Global Music IndexBlackbull Equities has been mandated to engineer and launch a tailored Actively Managed Certificate as the financial instrument for 38 Talent, an international artist asset management firm, tracking global music stocks. Read the release →
Risks to understand
- Income decay as songs age, especially for recent releases.
- Concentration in a few songs or one artist.
- Data quality. Royalty statements are complex, and due diligence on them is essential.
- Platform and rate changes that alter what streaming services pay.
General information only. This is not financial advice. See the important information at the foot of this page.
Blackbull in practice
Music and alternative assets in practice
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.
Blackbull engineers AMC for the 38 Talent Global Music Index
Blackbull Equities has been mandated to engineer and launch a tailored Actively Managed Certificate as the financial instrument for 38 Talent, an internati…
Read the announcement →
Blackbull Engineers Alternatives AMC for Swiss-Powered Structured Capital Platform
Blackbull has been mandated to engineer a tailored Actively Managed Certificate dedicated to alternative assets for a swiss-powered financial services plat…
Read the announcement →
The Analogue Collection AMC, designed by Blackbull, goes live
Blackbull confirmed that the Actively Managed Certificate on the Analogue Collection — designed and engineered by Blackbull Equities for a luxury collectio…
Read the announcement →Do investors own the songs?
Investors own the certificate. The issuer, or the portfolio it follows, holds the rights or the financing positions.
Is music income correlated with markets?
Royalty income depends on listening and licensing, not on equity markets, which is why it is often described as having low correlation. It is not risk-free.
Can an artist raise money without selling their catalogue?
Yes. Royalty-backed financing, for example through a CLN, lends against future income while the artist keeps ownership.
Sources
- IFPI, Global Music Report 2025.
- CISAC, Global Collections Report 2024.
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.