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.
Recent news
From the desk
Start a conversation
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.
LinkedIn ↗
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 · By asset
How to securitise private equity with an AMC
Private company shares are hard to buy and harder to hold: no ISIN, no custody, no price on a screen. An Actively Managed Certificate can turn them into a security that any private bank can book.
Why private equity is hard to hold
A stake in a private company is recorded in a share register, governed by a shareholders' agreement and often subject to transfer restrictions. A private bank cannot book it like a listed share, and many investors' mandates do not allow them to hold anything without an ISIN. The result is that good private companies, and the investors who would back them, struggle to meet.
How the structure works
- Shares move to the issuerThe private shares, or the right to them, are held by the issuer or one of its segregated compartments.
- A certificate is issuedThe issuer issues an AMC with an ISIN whose value follows those holdings.
- Valuation is setThe method and frequency of valuation are written into the terms, with an independent party where needed.
- Investors subscribe through their bankSettlement runs through the clearing systems, like any other security.
The investor ends up with a single security, priced on each valuation date, in their existing bank account. The company gets access to investors it could not otherwise reach, without the cost and disclosure of a public listing.
What can be securitised
- A single company, such as a growth company raising a round or founders releasing part of their holding.
- A portfolio of stakes, such as a manager's private equity or venture holdings, actively managed as new rounds come and exits happen.
- A mixed portfolio combining private stakes with listed shares, so that liquidity is available alongside the private positions.
Example of our structuring work · Live issuanceAnker Technology Index AMC, designed by Blackbull, goes liveThe Anker Technology Index AMC, designed and engineered for Swiss investment boutique Anker Capital AG, is officially live. Read the release →
What has to be solved
- Transfer rights. The shareholders' agreement must allow the issuer to hold the shares, and pre-emption or consent rights must be dealt with.
- Valuation. An agreed method and frequency, such as the last financing round, an independent valuation or a model, so the certificate can be priced.
- Liquidity terms. Redemptions should reflect how quickly the private positions can really be sold. Cash or listed holdings can provide a buffer.
- Information rights. The issuer and investors need regular reporting from the companies.
General information only. This is not financial advice. See the important information at the foot of this page.
Blackbull in practice
Private equity and growth companies, made investable
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.
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 →
Blackbull engineers AMC vehicle for deep-tech research organisation
Mandated to engineer and launch a tailored AMC as the financial vehicle for an organisation focused on accelerating the widespread adoption of exponential…
Read the announcement →
Blackbull engineers AMC vehicle for hydrogen fuel technology company
Blackbull Equities has been mandated to engineer and launch a tailored Actively Managed Certificate as the financial vehicle for a company specialising in…
Read the announcement →Does the company have to go public?
No. The company stays private. The issuer holds the shares and the certificate is what investors trade.
Who manages the portfolio?
For a portfolio of stakes, a named portfolio manager makes decisions within the investment guidelines. For a single company, the certificate usually follows that one holding.
How is the certificate priced between financing rounds?
On the valuation method set out in the terms. This is agreed with the issuer before launch, often with an independent valuer.
Sources
- Luxembourg Law of 22 March 2004 on securitisation, as amended: securitisation compartments.
- ISO 6166, International Securities Identification Number (ISIN).
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.