We approach the capital-raising challenge from both a top down and a bottom up perspective.
The investment needs of each segment vary and continuously evolve. To raise capital successfully, it is important to understand those needs and target the appropriate segments, and these “top-down” considerations will inform our client-specific approach. An opportunistic strategy that appeals to certain family offices is unlikely to appeal to a life assurance company subject to the constraints of Solvency II.
Ultimately though, it is the “bottom up” execution – access to and dialogue with individual decision-makers – that will determine our success. Given the competition for capital, access to asset owners has never been harder. Achieving that access requires detailed knowledge of personnel, decision-making structures and investment preferences, and it requires personal relationships.
When raising capital, there is simply no substitute for market knowledge and personal relationships developed over many years. Each member of the Black Isle team has the experience and relationships that provide an invaluable shortcut to the institutional marketplace. Without the sort of access we can provide, asset managers lacking experience of the UK institutional market will find the capital raising challenge very tough.