Institutions and treasuries
Capital that answers to a board, an investment committee or a regulator, and needs a manager who reports in a format that survives all three.
A pillar of DRoyal Global
Investment management
Institutional and private capital, placed by people who have operated in the sectors they underwrite. Group capital goes in alongside yours, on the same terms and at the same time.
What we manage
Private markets and alternativesDirect and fund exposure in sectors the group operates in
Wealth and family officeMulti-generation capital where continuity matters
Institutional mandatesDiscretionary and advisory, against a written brief
Who it is for
Three kinds of capital arrive here, and they want different things. What they share is a preference for judgment over activity.
Family offices and private clients
Multi-generation capital where the question is what survives, and where discretion about who you are matters as much as what you hold.
Owners of operating businesses
People who have sold a business or taken money off the table, and want it handled by someone who understands what it took to build.
How a mandate is underwritten
Four stages. The first is the one most managers skip, and it is the reason the rest of it holds.
01
The operating read
Someone who has run a business in that sector reads it before a model is opened. They know which line breaks first.
02
The numbers
Modelled, stressed and checked against what the operation can actually deliver rather than what the deck says it will.
03
The decision
Taken by the people who will live with it, with the conflicts written down before rather than after.
04
The hold
We stay in it through the cycle, and group capital stays in beside yours.
What you receive
Three documents, in the same format every period, whether the period was good or bad.
The mandate letter
What we will do, what we will not, the fees in plain figures, and every conflict we can foresee. Signed before anything is deployed.
The period statement
Every holding named, weighted and dated. Fees stated. Group capital committed to the same strategy, shown as a figure.
The annual review
What we got right, what we got wrong, and what we changed because of it. In writing, and not only in the good years.
What we will not do
Publishing the refusals is more useful than listing the capabilities. These are the ones that come up often enough to be worth stating.
Tell us what you need- Promise a return, a floor, or any protection of principal. That line is a regulatory limit rather than a stylistic choice.
- Take capital with a horizon shorter than the strategy it is going into.
- Name another client to prove ourselves to you.
- Recommend a strategy the group declines to hold its own money in.
- Take a mandate that belongs with a different pillar, or with nobody here.
Start a conversation
One conversation, no pressure. We will tell you what we would do with your capital, and what we would not.
Contact us