Ratio Capital Management

Investment Strategy

How We Deploy Capital

We focus on transactions where structural complexity, cross-border expertise or speed of execution creates value — mandates where a specialist firm consistently outperforms a generalist bank.

Investment Philosophy

Structured from first principles

We do not apply standard templates. Every facility is structured around the specific risk profile of the transaction — the asset, the sponsor, the jurisdiction, and the market conditions at the time of execution.

This approach requires deep sector knowledge and genuine cross-border expertise. It is what allows us to move quickly and with certainty where generalist lenders cannot.

01

Asset-Backed Security

All transactions are secured against tangible assets or contracted cash flows. We do not provide unsecured corporate lending.

02

Cross-Border Expertise

We structure transactions across multiple jurisdictions simultaneously, with deep knowledge of Dutch, German, UK, US, Australian and Asian legal frameworks.

03

Speed & Certainty

Credit decisions in days, not months. We can move from mandate to financial close faster than most institutional lenders.

04

Senior-Level Execution

Every mandate is handled by senior professionals from origination through to exit. No hand-offs to junior teams.

Sectors & Asset Classes

Where we deploy capital

Energy & Renewables

Solar, wind, hydro, BESS and conventional power generation with bankable offtake agreements.

Infrastructure

Roads, bridges, ports, airports, utilities and public infrastructure with long-term revenue visibility.

Trade & Export

ECA-backed export credit facilities, trade finance and cross-border structured trade transactions.

Real Assets

Industrial, logistics, commercial real estate and natural resource assets with strong collateral profiles.

Industrial Projects

Manufacturing, processing and logistics facilities with contracted revenues or strong market positions.

Natural Resources

Mining, agriculture and forestry assets with long-term offtake or commodity-backed structures.

Emerging Technologies

Hydrogen, district heating, EV charging and other transition assets with proven revenue models.

Cross-Border Mandates

Multi-jurisdiction transactions spanning EU member states, North America, Asia-Pacific and Australia.

Transaction Process

From mandate to financial close

01

Initial Assessment

We review the transaction summary and provide an initial indicative response within 5 business days. No lengthy pre-screening process.

02

Due Diligence

Detailed technical, legal and financial due diligence on the project, the sponsor and the jurisdiction. We engage our own advisors where required.

03

Structure Design

Tailored debt or equity structure designed around the specific risk profile of the transaction. Senior, mezzanine and subordinated tranches as required.

04

Credit Approval

Internal credit committee review and approval. We do not have external investment committees or lengthy governance processes.

05

Documentation

Negotiation and execution of facility agreements, security packages, covenants and conditions precedent.

06

Drawdown & Monitoring

Controlled drawdown against milestones with ongoing lender monitoring throughout the construction and operational phases.

Selection Criteria

What we look for in a transaction

We evaluate each transaction against a consistent set of criteria. Transactions that meet these criteria receive a rapid initial response and move quickly through our process.

Minimum ticket size of €5M
Tangible asset security or contracted cash flows
Experienced sponsor or borrower with relevant track record
Clear exit or repayment mechanism
Jurisdiction with enforceable security and legal certainty
Acceptable environmental and social risk profile

Submit a Transaction

Have a transaction to discuss?

Send us a brief transaction summary — asset type, size, jurisdiction and timeline. Our team will review and provide an initial response within 5 business days.