Selected Work

Questions our clients needed answered.

The engagements below illustrate the range and depth of our work. Client identities are withheld and details have been generalised: confidentiality is a condition of every assignment we accept. Each summary sets out the question the client brought to us and the lines of enquiry the research was designed to resolve.

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Global studies

Cross-border questions for organisations allocating capital, capacity and attention across several markets at once.

Technology & Infrastructure · Global

Power sourcing for next-generation AI data centres

Client: A global cloud and technology infrastructure group

An assessment of how the client could secure reliable, low-carbon power at gigawatt scale for its next generation of AI compute facilities.

Lines of enquiry

Grid capacity and timing. The grid constraints, interconnection queues and regulatory timelines likely to shape gigawatt-scale power procurement, including small modular reactors and nuclear power purchase agreements, across the principal AI compute markets over five to ten years.
Location risk. How data-sovereignty rules, local planning opposition and national energy-security policy affect where large training clusters can realistically be sited.
Protecting the investment. Which long-term power purchase and hedging structures best insulate capital from volatile electricity prices while meeting the client’s net-zero commitments.

Healthcare · Global

Manufacturing, market access and competition in metabolic therapeutics

Client: A leading global pharmaceutical company

A study of the supply, reimbursement and competitive conditions that will determine the long-term commercial position of GLP-1 and related metabolic therapies.

Lines of enquiry

Manufacturing resilience. Where the principal points of failure lie in the global contract manufacturing chain, from active pharmaceutical ingredients to fill-finish and auto-injector devices, and how single-source dependencies can be reduced.
Payer dynamics. Which reimbursement criteria, government price-negotiation mechanisms (including the US Inflation Reduction Act and European health-system processes) and co-payment structures will govern access for long-term maintenance treatment.
Next-generation competition. How oral small-molecule alternatives and multi-receptor agonists are likely to affect the share of current injectable therapies over a five-year horizon.

Defence & Industrials · Global

Supply-chain resilience and production capacity in defence systems

Client: A leading aerospace and defence prime contractor

Research supporting the client’s strategy for supply-chain security, procurement change and industrial capacity across allied markets.

Lines of enquiry

Critical inputs. The vulnerabilities in rare-earth elements, advanced sensors and mature-node semiconductors on which the client’s autonomous and precision systems depend, and the scope for sourcing them from allied nations.
Procurement reform. How Western defence ministries are adapting procurement cycles to adopt commercial software, AI and dual-use technologies more quickly.
Industrial capacity. Which joint-venture, co-production and investment models would allow the client to meet rising replenishment demand across NATO and Indo-Pacific partners.

Energy & Resources · Global

Geopolitical risk and investment opportunity in critical-mineral refining

Client: A major sovereign wealth fund

An analysis of the midstream processing and refining segment of the critical-minerals value chain, to inform the fund’s investment strategy.

Lines of enquiry

Policy and trade controls. How Western industrial policy, including the US Inflation Reduction Act and the EU Critical Raw Materials Act, together with Chinese export controls on refining technology, affects the valuation and market access of processing assets.
Alternative refining hubs. Which emerging jurisdictions, including the Gulf states and parts of Southeast Asia, combine competitive energy costs, regulatory stability and industrial infrastructure.
Offtake security. Which long-term offtake structures with carmakers and battery manufacturers offer dependable returns while limiting exposure to commodity price swings.

Financial Services · Global

Private wealth migration and the expansion of private credit

Client: A global private equity and wealth management group

A study of cross-border wealth flows and private-credit opportunities in a higher-interest-rate environment.

Lines of enquiry

Wealth migration. The tax, sovereign-risk and transparency factors prompting ultra-high-net-worth families and family offices to relocate to centres such as Dubai, Singapore and Switzerland.
Private credit allocation. Where the most attractive risk-adjusted opportunities lie across direct lending, asset-backed finance and real-estate mezzanine debt as institutional allocations shift.
Generational change. How the preferences of second- and third-generation inheritors are shaping demand for direct private-market access, venture investment and sustainable investment vehicles.

Technology & Infrastructure · Global

AI-enabled threats and platform resilience

Client: A multinational social media platform

A threat assessment of how advances in AI are changing the security risks facing the client’s infrastructure and the trust of its users.

Lines of enquiry

Emerging threats. Which AI-enabled threats, including automated social engineering and large-scale synthetic media, pose the most acute risk over a 24-month horizon.
Defensive gaps. How well current moderation, identity verification and incident-response arrangements would withstand high-frequency, automated attacks.
Mitigation and compliance. The safeguards, threat-intelligence capabilities and compliance measures needed to maintain platform integrity, user trust and regulatory standing.

Regional studies

Studies requiring close knowledge of a single market or region: its institutions, its politics and its commercial realities.

Agribusiness · Middle East & North Africa

Agricultural supply-chain resilience in Egypt

Client: An international agribusiness group

An assessment of how the war in Ukraine has affected Egypt’s agricultural sector, import dependence and food-security arrangements.

Lines of enquiry

Inputs and supply. The short- and medium-term effects of Black Sea disruption on Egypt’s supply of wheat, fertiliser, seed and energy.
Policy and pricing. How state intervention, currency devaluation and the management of strategic reserves are reshaping prices, subsidies and private-sector trade.
Commercial opportunity. Which supply-diversification models, crop-substitution trends and public–private partnerships offer international participants both resilience and commercial upside.

Real Estate & Construction · Middle East

Institutional and political-economy analysis for capital projects in Iraq

Client: A major construction and real-estate development group

A governance and risk study to support the client’s planning for large capital projects in Iraq.

Lines of enquiry

Institutional authority. How responsibility for licensing, land acquisition and project oversight is divided between federal ministries, the Kurdistan Regional Government and provincial councils.
Operating environment. The informal power structures and security conditions that could create operational, financial or reputational risk during execution.
Safeguards. The legal mechanisms, local partnership structures and compliance arrangements needed to protect project continuity and contractual integrity.

Financial Services · Southeast Asia

Digital-currency infrastructure and regulation in Southeast Asia

Client: An international financial institution

A mapping of the emerging hubs for central bank digital currency settlement, stablecoins and digital-asset liquidity across ASEAN.

Lines of enquiry

Emerging hubs. Which jurisdictions, including Singapore, Thailand and Vietnam, are establishing leading positions in digital-currency settlement and liquidity.
Barriers to interoperability. The regulatory differences, capital controls and technical constraints that impede cross-border digital-asset settlement within ASEAN.
Financial stability. The systemic risks these hubs may pose, including illicit capital flows, currency substitution and concentrations of liquidity.

Energy & Resources · Western Europe

EU trade policy and the European solar market

Client: A leading Asian solar photovoltaic manufacturer

An assessment of how EU trade and regulatory measures are changing demand for imported solar components and the procurement behaviour of European buyers.

Lines of enquiry

Regulatory effect. How the Carbon Border Adjustment Mechanism, supply-chain traceability requirements and tariffs are likely to affect the landed-cost competitiveness of imported modules.
Buyer behaviour. How utility-scale developers and corporate energy buyers are revising supplier criteria and long-term contracts in response to trade tensions.
Market access. Which options, including European assembly partnerships, nearshored supply chains and value-added services, could sustain market position while managing compliance risk.

Telecoms · Central & Eastern Europe

Acquisition screening for independent telecoms operators

Client: A UK-based private equity and telecoms investment group

A screening of acquisition opportunities among independent operators in Central and Eastern Europe and the Western Balkans.

Lines of enquiry

Target identification. Which fixed-line, fibre and mobile operators combine strong operating performance, defensible market positions and attractive valuations.
Regulatory and geopolitical exposure. The cross-border regulatory constraints, spectrum policies and geopolitical risks that could affect clearance and integration.
Value creation. Which network expansion, 5G monetisation and infrastructure carve-out strategies offer the greatest scope for margin improvement over a five- to seven-year holding period.

Consumer · Multi-market

Adult consumer behaviour across nicotine product categories

Client: A global tobacco company

A cross-market study of how adult consumers are moving between traditional and next-generation nicotine products.

Lines of enquiry

Category shifts. How adult preferences are changing across cigarettes, heated tobacco, vapour products and oral nicotine pouches, by demographic group.
Behavioural drivers. The sensory, practical and social factors that drive switching, satisfaction and use of more than one category.
Regulatory sensitivity. How demand is likely to respond to anticipated measures such as flavour restrictions, nicotine limits and differential taxation.

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