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
Investing in whisky, wine and spirits
A cask of Scotch whisky gains character and value as it matures. Fine wine does the same in the bottle. Both have long histories as collectors' assets, and both can be held through a security with its own ISIN.
How maturing spirits gain value
New-make spirit is filled into oak casks and left to mature. By law, Scotch whisky must mature in oak casks in Scotland for at least three years, and many casks are kept far longer. As whisky ages, it becomes scarcer and more sought after, both by bottlers and by collectors. Some volume is lost to evaporation each year, the “angels' share”, which is part of what makes older casks rarer.
Ownership, storage and title
Casks are held in bonded warehouses, where duty is suspended until the spirit is removed for bottling. Ownership is recorded by the warehouse, so clear title, documented cask specifications and regular regauging, which measures volume and strength, are the foundation of any investment. Fine wine is stored in bonded or professional cellars, with provenance and condition records.
Valuation
Casks are valued on distillery, age, cask type, volume and strength, using trade prices and auction results. Fine wine has published reference prices from secondary-market platforms and indices. In both cases, valuation by an independent specialist at a set frequency is what lets a certificate be priced.
Putting casks or cellars in a certificate
An AMC can hold a portfolio of casks or wine, managed by a specialist who buys, matures and sells within its guidelines. A CLN can finance a cask management company against its inventory, repaid from sales as casks reach maturity.
Example of our structuring work · MandateBlackbull Engineers Certificate Note for Scotch Whisky Cask CollectionBlackbull has been mandated to engineer and launch a tailored Certificate Note as financial instrument for a Scotch whisky cask management company. Read the release →
Risks to understand
- Market prices for casks and wine can fall as well as rise.
- Title and fraud. Verification with the warehouse is essential.
- Exit. Selling a cask means finding a bottler, a broker or an auction buyer.
- Costs of storage, insurance and regauging reduce returns.
General information only. This is not financial advice. See the important information at the foot of this page.
Blackbull in practice
Real assets we have 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.
Blackbull Engineers Certificate Note for Scotch Whisky Cask Collection
Blackbull has been mandated to engineer and launch a tailored Certificate Note as financial instrument for a Scotch whisky cask management company.
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 →
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 →Do investors own specific casks?
Investors own the certificate. The issuer or portfolio holds title to the casks, recorded with the bonded warehouse.
Is duty payable?
Not while spirits remain in bond. Duty is due when they are removed for sale or bottling.
How long are casks held?
It depends on the strategy, typically several years, so that the spirit reaches an age the market values.
Sources
- The Scotch Whisky Regulations 2009 (UK SI 2009/2890).
- HM Revenue & Customs, Excise warehousing guidance.
- Liv-ex, Fine Wine 100 index.
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.