LATEST INSIGHTS
The FCA’s proposed AIFM regime: what this means for private capital


International Women’s Day
Give to Gain: How mentorship and support help women thrive at work
International Women’s Day provides an opportunity to reflect on how progress happens in careers and organisations.
Progress is built through everyday actions: mentoring a colleague, encouraging someone to speak up in a meeting or supporting someone to take on new responsibilities.
This year’s theme, Give to Gain, recognises that progress is rarely one directional. When people invest time, support and experience in others, they often strengthen their own leadership skills, build stronger teams and contribute to a more supportive workplace culture.
To mark International Women’s Day, colleagues from across Langham Hall’s global offices share their reflections on what they have given in their careers so far and how those actions can help women thrive.
Below are their reflections:
Jersey
“There is no greater pleasure in life than watching a colleague you have coached and mentored step into their own light. It's seeing someone realise they had the key in their pocket all along. Mentoring colleagues is deeply rewarding for me as it's about unlocking an independence, not just building their skills but building their belief. And belief changes everything.” – Nicki Yates, Senior Client Director, Jersey
United States
"So far in my career, what I have given most intentionally, is leadership through mentorship, and a commitment to building strong relationships within teams. Given the spotlight on International Women’s Day, it's important for me to share my experience as a mother and bring a personal touch to the firm. This results in a strong team, improves culture and allows us to better serve our clients. Ultimately, I see my career not just as a professional advancement, but to strengthen both the business and the people within it.” – JingJing Li, Manager, US
London
"One of the most meaningful things I have been given in my career so far is seeing Rachel, our head of UK fund administration, truly own her authority in a male dominated industry. Seeing a woman lead with such confidence has told me that leadership is not about title, it is about presence. And it has inspired me to believe that I, too, can lead boldly and hopefully continue to empower other women, as I progress in my career.” – Christie Sawyerr, Depositary Associate, London
Guernsey
"In my career at Langham Hall, I have many opportunities to help women thrive in the business. One of the key opportunities I have had more recently is being a mentor to multiple staff members. This has included working on their strengths and areas of development to help build their confidence, as well as allow them to grow on their aspirations for the business and the future.” – Emma-Louise Sarre, Associate Director, Guernsey
Luxembourg
“In my career so far, one of the most important things I have given is support and encouragement. I have had to create space for women to speak, to take opportunities, and to believe in their abilities, encourage their ideas, and celebrate their achievements, to help them grow with confidence. When you give support to a woman, you do not only help them, but you create a strong workplace for everyone.” – Sotiria Kampyli, Director, Head of Real Estate, Luxembourg

Apprentice spotlight: Adeel Rafiq
As Adeel Rafiq approaches the completion of his IT apprenticeship at Langham Hall, he reflects on what the experience has taught him and how it has shaped his early career.
Joining as an apprentice meant balancing structured study with real responsibility from the outset. For Adeel, that combination has been the defining feature of the experience.
"My apprenticeship at Langham Hall has been an invaluable experience. It has strengthened my technical skills, taught me accountability, and reinforced the importance of continuous learning, while motivating me to pursue further qualifications.
From early on, I was trusted with meaningful work for clients. That responsibility helped me develop quickly and take ownership of my work.
What stands out most is the culture. I have made friends who have become mentors. It is an environment where questions are encouraged, development is prioritised, and hard work is recognised."
Learning through responsibility
Adeel describes the transition from learning concepts to applying them in live situations as the moment his confidence accelerated.
"Being given responsibility early makes a difference. You are not just observing. You are contributing. That builds both competence and confidence."
That approach reflects Langham Hall’s broader apprenticeship model. While Adeel is completing a formal apprenticeship programme, the philosophy extends across the firm. Learning is structured, hands-on and supported by direct feedback. Development happens through doing.
Advice for those starting their apprenticeship
Adeel shares three reflections for anyone beginning their journey:
Embrace a growth mindset: Stay curious, take on challenges and treat mistakes as opportunities to improve.
Take ownership of your work: Approach every task as a chance to build trust and demonstrate reliability.
Build relationships across teams: Learn from colleagues in different areas of the business to broaden your understanding and perspective.
As he looks ahead, Adeel is focused on continuing to deepen his technical expertise and taking on increasing responsibility.
"The apprenticeship has given me a strong foundation. What excites me now is building on that and continuing to develop."

Accounting changes can move the goalposts for MIPs
How changes to revenue and lease accounting under FRS 102 affect MIPs
As mid-market deal activity continues to evolve, management incentive plans (“MIPs”) remain a critical tool for aligning the interests of asset managers and management teams. From 1 January 2026, amendments to FRS 102 relating to revenue recognition and lease accounting will apply for accounting periods beginning on or after that date. Even where underlying business activity remains unchanged, reported performance may move, with major knock-on effects on MIPs. For boards and sponsors, the key risk is that incentive outcomes shift because accounting presentation has shifted, not because performance has changed.
The revised revenue recognition model introduces more detailed rules around identifying performance obligations and the timing of revenue recognition, which may alter how and when revenue is reported. The lease accounting changes will now bring most leases onto the balance sheet, replacing operating lease expenses by separating depreciation and interest. The practical implication is that revenue trends, EBITDA and balance sheet ratios may move, particularly during transition periods where year on year comparability becomes harder.
These changes will directly impact key financial metrics commonly used in MIPs. As a result, asset managers may need to consider whether existing incentive structures remain appropriate under the revised accounting framework. This is not only about accounting compliance, but also about preserving fairness, intent and defensibility of incentive outcomes.
Revenue recognition
FRS 102 now applies a more structured approach to revenue, similar to IFRS 15, whereby revenue is recognised based on when performance obligations are satisfied, not simply when invoices are raised.
Why this matters for MIPs
• Revenue may be recognised earlier or later than before
• Multi-year contracts may be split across periods
• YOY revenue growth can change purely due to timing changes
A key change concerning management is that revenue-based bonuses may be impacted by these accounting changes, potentially penalising performance that may otherwise be strong. Equally, the opposite can occur: timing effects can flatter a period without a corresponding change in underlying activity, creating outcomes that are hard to explain or defend.
Lease accounting
Most leases now appear on the balance sheet as:
• A right-of-use asset
• A lease liability
Instead of a single rental expense, companies record:
• Depreciation
• Interest expense
This is important for MIPs because moving lease costs below the line for EBITDA can boost reported EBITDA, alter the timing of operating and net profits and make the early years of leases appear less profitable.
A key change for asset managers is that EBITDA linked bonuses could seem easier to earn, despite no real operational improvements. Where plans reference below-EBITDA measures, reported profitability may move differently again due to the shift in depreciation and interest.
Why this matters for MIPs
Bringing leases onto the balance sheet increases:
• Total assets
• Total liabilities
In turn, this can have an effect on company MIPs by impacting return on assets, gearing ratios and capital efficiency measures. It can also change leverage and gearing ratios on paper, which may matter where MIPs include balance sheet-linked hurdles.
What asset managers may need to consider
To keep MIPs fair and effective, asset managers should:
• Update targets using post change numbers
• Consider adjusted metrics that strip out accounting driven volatility
• Clearly define how accounting changes are treated in incentive plans
• Use parallel reporting during transition periods where possible
Fund managers should also consider the investor narrative. If EBITDA appears to improve due to lease accounting, or revenue trends shift due to revised recognition, stakeholders may read that as underlying change when it is accounting presentation. Consistency and clear explanation matter, particularly when performance is being assessed over time.
What this means in practice
The priority is to protect the integrity of incentive outcomes. A small amount of work now, modelling what moves and documenting how the MIP should treat the transition, can prevent avoidable debate later.
This is particularly relevant where revenue timing is complex or lease profiles are material, which is often the case in infrastructure and real assets. Given these changes may materially impact reported performance and risk management, careful implementation is essential to avoid unintended consequences, including significant misalignment or demotivation. Langham Hall can help managers and sponsors quantify the impact, support transition reporting and ensure incentive frameworks remain aligned to the underlying commercial story.

Graduate spotlight: Jack Park
Jack Park joined Langham Hall as part of the September 2025 trainee accountant intake. We caught up with him to hear what surprised him most about the move from studying to working life, how he has found the apprenticeship model in practice and the advice he would give to others starting the ACCA.
At Langham Hall, our trainee programme is built around structured training, early responsibility and learning alongside experienced colleagues. Jack’s reflections capture what that looks like in practice when you are developing quickly, delivering real work and studying at the same time.
Q&A with Jack
What has been the biggest adjustment in moving from studying to your graduate role?
University was much more independent. While there was some group work, ultimately you were responsible only for yourself.
Moving into a role at Langham Hall was different. You are part of a team and others rely on you, including your line manager. There is a clear expectation around both the quality and timeliness of your work. That added responsibility was the biggest adjustment, but it also helped me develop quickly and feel accountable from the start.
How does the apprenticeship model work in practice at Langham Hall?
The apprenticeship model begins with two to three weeks of focused training. During that time, you gain a strong overview of the business and a detailed understanding of what you will be doing day to day, including areas such as bookkeeping.
After that, you move straight into actual work, supported closely by your line manager and team. There is a strong emphasis on learning on the job. In my view, that is the most effective way to develop because you are applying knowledge immediately and building experience alongside your studies. You learn faster because you are doing the work, getting feedback and improving in real time.
What advice would you give to others starting their ACCA while working full-time?
One of the most helpful things for me was using the people around me. I spoke to my line manager and team members about how they approached the ACCA and what worked for them.
When you start, you do not really know what to do. But everyone around you has been through that process before. Asking questions and seeking advice makes a real difference. The support is there, and being open to it helps you manage both work and study more effectively.
What excites you most about the next phase of your career at Langham Hall?
What excites me most is the sense of continuous learning. Every day presents an opportunity to improve and develop new skills.
There is real satisfaction in learning something new and then applying it directly to your work. That ongoing progression and steady improvement is what makes the next phase of my career something I am genuinely looking forward to.

W&I insurance in Japan: from niche product to structuring tool
Warranty and indemnity (W&I) insurance remains less widely used in Japan than in many Western markets. However, as transaction structures evolve and cross-border activity increases, its role in Japanese M&A is beginning to shift.
Langham Hall recently co-hosted a seminar in Tokyo with Howden Group to discuss how W&I insurance is functioning in practice and what that means for sponsors operating in the Japanese market.
Three themes emerged.
A shift in negotiation dynamics
The introduction of W&I insurance can alter how risk is negotiated. Rather than prolonged debate over liability caps and escrow structures, parties can focus on clarity of drafting and efficient allocation of risk.
Transaction economics beyond the premium
Whilst the premium is an additional cost, it should be assessed against total transaction economics. Extended negotiations, delayed distributions and capital retained during indemnity periods can materially affect fund outcomes. Cleaner exits can support earlier capital return to LPs and reduce the need for prolonged escrow or indemnity holdbacks, particularly relevant for funds approaching the end of their lifecycle.
Disclosure discipline and governance
W&I insurance draws a clear distinction between known and unknown risks. Effective disclosure becomes central, reinforcing governance standards and transparency between buyer and seller.
Compared with Europe and the US, adoption in Japan remains at an earlier stage. However, as international sponsors increase activity and investor expectations continue to rise, structured risk transfer mechanisms are likely to attract greater attention.
For fund managers, W&I insurance is increasingly viewed not simply as an insurance product but as a structuring tool with implications for capital management and investor confidence.
Langham Hall continues to monitor developments in Japanese deal structuring and fund operations as the market evolves.

Parallel funds and European investment: Jersey as a strategic choice
As managers look to attract a wider range of international investors, structure choice matters. Parallel funds offer a proven way to broaden the global investor base, meeting varied investor preferences whilst maintaining tax and operational efficiency and ensuring equal access to investment opportunities.
At Langham Hall, we work with managers across private equity, real assets and private debt who are using parallel funds to accommodate different investor cohorts and optimise fund structuring. As North American managers expand their reach, selecting the right jurisdiction has become increasingly important: balancing investor expectations, commercial priorities and regulatory requirements. Jersey is emerging as an option for those raising some European capital, offering regulatory efficiency, investor familiarity and cost-effective access to European investors.
Why parallel funds work for US managers
North American managers raising European capital often need to accommodate investor preferences whilst keeping portfolios aligned. A Jersey parallel sleeve does this without rebuilding the flagship: it sits alongside the existing vehicle, aligns strategy, assets and reporting and keeps timelines predictable with proportionate ongoing obligations. Where European institutions prefer a European-friendly structure, the Jersey sleeve meets that preference in a cost-disciplined way.
What Jersey brings
- Investor confidence: Jersey is internationally recognised by major global bodies, including the IMF, OECD, EU and MONEYVAL, providing comfort to institutional investors
- Flexible structuring options: Jersey offers a wide range of fund structures, including companies (and cell companies), limited partnerships, unit trusts and Jersey LLCs modelled on Delaware entities, familiar territory for US managers and their legal counsel
- Regulatory simplicity: the Jersey Private Fund (JPF) regime is a light-touch solution tailored for sophisticated investors. Qualifying applications can be authorised within 24 hours, reducing time to market and ongoing compliance costs. Funds can utilise the Jersey Expert Fund regime as they grow
- Cost-effectiveness: a streamlined framework that helps contain setup and operating expenses over the life of the fund
- Experience: a deep pool of experienced service providers across fund administration, legal, audit and regulatory functions
- Investor comfort: many European investors prefer structures within a nearby time zone and with familiar legal frameworks
- Tax neutrality: Jersey funds are typically tax neutral, avoiding double taxation and simplifying cross-border tax planning
- EU market access via NPPRs: Jersey funds can access EU investors through National Private Placement Regimes (NPPRs), requiring limited filings and proportionate reporting
Where parallel funds help in practice
- European LP preference: a parallel sleeve for investors who prefer a European-friendly structure
- Operational separation: clear delineation of EU and non-EU investor terms whilst keeping portfolio alignment
- Faster route to first close: predictable pathways from term sheet to launch
- Cost discipline: meeting investor needs without importing unnecessary overhead
Real-world example: a parallel Jersey Expert Fund (anonymised)
We recently worked with a leading global alternative investment manager to launch a parallel Jersey Expert Fund for its private debt series. European investors who could not – or preferred not to – invest through the existing Cayman-domiciled master fund subscribed via the Jersey sleeve. Langham Hall provides fund accounting and administration; it was the manager’s first Jersey product and was launched at short notice, with reporting aligned across sleeves.
What to decide (before you proceed)
• Target investor profiles and any jurisdictional preferences or constraints
• Vehicle type and governance model
• Reporting alignment across sleeves (timing, content, look-through)
• NPPR approach and filing sequence by country
• Workstream owners across administration, legal and audit
Langham Hall view
For US fund managers raising European capital, Jersey offers a pragmatic mix of speed, cost and investor comfort. It is an efficient way to accommodate European preferences whilst keeping the flagship strategy intact.
Langham Hall has extensive expertise establishing and administering Jersey-domiciled parallel fund structures. Our team supports managers through every stage, from fund setup to ongoing administration, ensuring a smooth launch, efficient operations and compliant access to European investors. We manage the parallel fund data, reporting obligations and regulatory workflows so managers can focus on deployment and performance.

Langham Hall Japan launches “Break the Border” with Senshu University
Student business contest links academic insight with real-world fund operations
Japan’s integration into global private markets continues to evolve. Yet the operational and regulatory architecture that underpins cross-border capital flows remains under-recognised within academic settings.
To help address this gap, Langham Hall Japan has launched “Break the Border”, a new initiative in collaboration with Professor Moriuchi’s seminar at Senshu University.
The programme is a student business contest designed to develop commercially grounded ideas that can be tested through Langham Hall Japan’s business development activity. The winning participant will join Langham Hall Japan for a two to three month internship, testing their concept within a live commercial environment.
“Japan has world-class talent, but the career paths behind international private markets are still not widely visible. This programme is designed to make that architecture more tangible and to give students a practical route to test ideas in a live commercial environment.” - Shinobu Miyata, Head of Japan, Langham Hall
Bridging academia and global capital
Fund administration and cross-border structuring are rarely visible career paths in Japan. Yet they are central to the functioning of private equity, real estate, infrastructure and credit markets worldwide.
Break the Border is also designed to help students challenge the assumptions that can unintentionally narrow their career options. By exposing them early to global-standard business structures and regulated fund operations, the programme aims to broaden their understanding of how international private markets function and where they might contribute within them.
By introducing students to how regulated structures operate in practice, the initiative aims to:
• Demystify global-standard business models
• Connect academic theory with regulated execution
• Provide practical exposure to cross-border capital markets
This is not a lecture series; it is structured exposure to how ideas translate into regulated vehicles and how those vehicles connect international investors with opportunity.
Building capability for the long term
Langham Hall’s growth depends on developing professionals who understand both technical precision and commercial reality.
The initiative also supports early-career awareness of fund administration in Japan, where the industry remains less visible than other financial services career paths. It is also intended to strengthen recognition of fund administration within the graduate recruitment market, through practical exposure rather than explanation alone.
As a partner-led global firm, Langham Hall believes capability must be built intentionally. Creating structured access to international fund operations strengthens both the market and the next generation of professionals.
We thank Professor Moriuchi and Senshu University for their partnership.

Charity initiatives, 2025 wrap-up
A year-end round-up of how colleagues supported local causes and community organisations across our offices
In 2025, colleagues across Langham Hall’s offices gave their time, energy and creativity to support local causes and community organisations.
We do not treat this work as an add-on. It is part of how we build culture: teams that collaborate well, learn from one another and stay connected beyond day-to-day work.
This wrap up brings together a selection of initiatives from the second half of the year, from fundraising in our offices to volunteering that supported organisations doing vital work locally.
London
On 11 December 2025, the Charity Committee hosted our first annual Heads of Department Charity Bake-Off competition. Five of our senior leaders rolled up their sleeves and showcased their baking skills. It was a simple idea with a strong outcome: colleagues came together, met leaders outside their usual teams and raised money for causes close to home.
Thank you to Allan Jensen, Annika Murray-Blake, Fleur Primavera, Rachael Lyon, Tom Pinnell and Lauren Mangis for participating, and for being such good sports.
Congratulations to our winner and runner-up at the event.
1st Place: Tom Pinnell, Head of Commercial, Europe. A £100 donation was made by the Charity Committee to Tom's chosen charity, the National Autistic Society.
2nd Place: Fleur Primavera, Head of HR and L&D. A £50 donation was made by the Charity Committee to Fleur's chosen charity, Breast Cancer UK.
On 11 December 2025, staff came together in festive spirit by wearing their best Christmas jumpers to raise money for Save the Children. Thanks to everyone’s generosity; we raised £102. The Charity Committee also made a contribution of £150, bringing Langham Hall’s total donation to £252.
Save the Children supports children both in the UK and around the world, helping to keep them safe and healthy while ensuring access to education. Thank you to everyone who took part and helped make this fundraising effort a success.
US
The team at Langham Hall volunteered at Bowery Mission, coming together to prepare chickens, potatoes, vegetables and other food items to provide warm, nourishing meals for people experiencing homelessness.
Through teamwork and compassion, the event made a meaningful impact by supporting the mission’s efforts to serve the community with dignity and care.
Luxembourg
In October, to mark Breast Cancer Awareness Month, we had the pleasure of hosting Think Pink Luxembourg at our premises for an inspiring and informative session. The event focused on the importance of early detection and provided practical self-care tools, empowering participants with valuable knowledge they can apply in everyday life.
Following this session, we were proud to make a donation to Think Pink Luxembourg, an organisation that supports women and their families across Luxembourg who are living with the day-to-day reality of breast, gynaecological and other cancers.
In addition, four of our colleagues took part in the Race for the Cure, helping to raise awareness and funds for breast cancer research and support services. The approximately 3 km course took place around a beautiful lake, combining sport, solidarity and community spirit.
During Movember, our team embraced the moustache challenge to raise awareness around men’s health. Through this initiative, we raised funds that were donated to InfoMann, an initiative under actTogether Luxembourg. InfoMann’s mission is to promote healthier and more diverse masculine roles in a changing society. The organisation challenges traditional male stereotypes, supports gender equality and focuses on men’s mental health and wellbeing through counselling, education and awareness-raising activities.
We also continue our participation in The Social Goal, an initiative that unites corporate teams across Europe and Asia to support local NGOs. By using sport as a tool for positive change, The Social Goal helps provide children with access to structured, life-changing programmes. Our team competes against other companies for a good cause, always in a friendly and inclusive environment, reinforcing teamwork, solidarity and our shared commitment to making a positive social impact.
Guernsey
The Guernsey team has been actively fundraising for our charity of the year. During World Food Day, several colleagues generously brought in dishes from their home countries, while the office also hosted a Pyjama Day to raise funds for the Pink Ladies.
One lucky team member won a day off in a raffle supporting the Priaulx Premature Baby Foundation.
The office came together again for Christmas Jumper Day, raising money for Save the Children.
Several colleagues also participated in volunteer opportunities with the GSPCA and the Russels Day Centre, giving their time to support local causes through hands-on community work.
Jersey
In September, a team from the Jersey office attended one of our favourite events, Dragon Boat Racing, in support of Jersey Hospice Care. Our team, Langham Hula, brought the tropical vibes to the race at the Jersey Harbour with grass skirts, colourful leis and lots of enthusiasm. We are proud to have raised £555 for this incredible charity, and it was a brilliant way to combine fun, teamwork and support one of our chosen charities.
We proudly sponsored our colleague Nicki Yates in the Jet Jaunt Passage to Prague challenge, a charity initiative inspired by Race Across the World. Nicki took on this adventure to raise funds for Jersey Employment Trust, a charity that helps Islanders with disabilities or long-term health conditions access employment. As part of our support, we hosted a cake sale in the office, with employees contributing by baking delicious sweet and savoury treats. It was a fantastic effort and we raised £306 towards Nicki’s donations.
On 24 October, our office turned pink for Breast Cancer Awareness Month as we joined the Breast Cancer Now Wear It Pink campaign. With pink balloons and employees dressed in their bright pink outfits, the day was full of colour and purpose. Everyone played their part in supporting this cause, raising a total of £327.
Throughout November some of our colleagues took part in Movember, growing their moustaches to raise awareness and funds for men’s mental health. The donations went to Mind Jersey, helping to fund vital services for those with mental health illness.
To kick off the Christmas season, our team joined Jersey Hospice Care’s Santa Dash. It was a pleasure to see the town come together in such strong festive spirit for a great cause.
To keep the festive spirit alive, we joined Save the Children’s Christmas Jumper Day and the office did not disappoint. From colourful jumpers to full-on festive suits, jackets and hats, everyone embraced the fun while supporting a fantastic cause. It was a brilliant way to celebrate together and raise money for children in need.
Thank you
Thank you to everyone across the firm who took part, donated, volunteered or helped organise an initiative this year.
Small actions, sustained over time, add up. We are proud of what colleagues supported in 2025 and we look forward to continuing that work in 2026.

Spotlight on Nick Ware: what US managers are really asking about Europe
Langham Hall has long worked with North American fund managers, supported by established teams in New York, London and Luxembourg, and across our global platform. We support an established and growing base of North American managers across fund administration, depositary and AIFMD services, combining on-the-ground market context with cross-jurisdiction delivery.
Nick Ware is a Senior Manager at Langham Hall and has spent the past six months based in New York, as part of our transatlantic client team, working closely with colleagues across jurisdictions to support US managers considering Europe.
In this spotlight, Nick reflects on what has stood out since being on the ground — from the pace of decision-making to the small, human factors that shape how cross-border work really happens in practice.
Being on US time changes the rhythm
After years of supporting US conversations through regular transatlantic travel, being based full-time in New York has shifted the rhythm of the working day.
“Being on US time makes a real difference,” he says. “You are part of conversations as they happen, not picking them up the next morning.”
That immediacy matters in early discussions with US managers considering Europe. Many conversations now start well before a formal fundraising process, with questions focused on structure, timing and practicality.
What US managers ask first about Europe
“The most common questions are still about routes into Europe,” Nick explains. “When does a Luxembourg structure make sense? What are the implications? And increasingly, what are peers doing?”
A lot of what Nick hears is not theoretical. It is practical: timing, sequence and what can be done now, as well as what needs to be built later as the investor base evolves. Managers also want to sanity-check what is becoming more common in the market and what still tends to be treated as bespoke.
Where relevant, Nick helps managers map European oversight requirements onto their structure. That includes the depositary, an independent oversight function with defined duties under European rules, as well as Annex IV reporting throughout Europe.
Early planning often determines whether momentum builds or stalls
“European registrations take time, but pre-marketing has changed how managers approach this. Teams can test interest earlier, focus effort where there is real demand and only register once conviction builds. That preparation keeps things moving.”
From a delivery perspective, Nick sees small early decisions making a disproportionate difference. Aligning the access route, expectations and timelines early helps teams avoid duplication later and keeps the process coherent across jurisdictions.
New York pace and the reality of time zones
What has stood out most since being on the ground is pace.
“Work here moves quickly. Client service expectations are high and turnaround times are short,” Nick says. “Being available when questions arise, rather than a day later, makes a tangible difference – particularly once Europe has logged off.”
A smaller market than it looks
There is also a strong sense of proximity within the industry. “You bump into the market constantly, especially around midtown. It is a smaller world than it looks, and word travels fast. Consistency and follow-through really matter.”
Across all of this, Nick sees a common theme. “There is a real appetite for growth. US managers are looking outward and Europe is firmly part of that conversation. The challenge is making sure the operating model keeps up with the ambition.”
What good looks like in practice
Themes Nick sees consistently:
- Teams engage Europe early enough to make pre-marketing useful, rather than reactive
- The access route and its practical implications are agreed up front, not mid-process
- Cross-time-zone coordination is structured so decisions, documentation and next steps stay aligned
For Nick, the value of being on the ground is simple: fewer delays, cleaner decision-making and more continuity as early conversations become live processes.
Based in New York, Nick works alongside teams in London, Luxembourg, the US and across the group to keep transatlantic delivery aligned, from early structuring conversations through to oversight and reporting.
If Europe is on the horizon for your next raise, our team is always happy to compare notes on what we are seeing in the market and how managers are approaching timing, structure and execution. For now, Nick is focused on keeping the transatlantic handover points clean, so clients can move at the pace they need.
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