PROJECT CAPITAL · FOR PROJECT SPONSORS

    Capital for the people building energy, infrastructure and real estate.

    Equity and debt for projects, platforms and properties in the United States and Europe, from development through operation, placed with the institutional capital already allocating to real assets. Run by a team that has raised project and infrastructure capital at the largest scale it exists and structured debt at one of the world's largest banks.

    THE PROBLEM

    The capital exists. The process at your size usually does not.

    Institutional appetite for real assets has rarely been higher. Power, oil and gas, storage, transmission, data centers and fiber are drawing capital from every corner of the market, private credit has filled most of the space banks left in project and real estate lending, and family offices on both sides of the Atlantic want direct exposure to assets they can understand. What is missing for a $10 million to $200 million raise is not capital. It is a process: the right structure for the asset's stage, a materials suite that holds up under an institutional investment committee's diligence, coverage of every lender and equity provider that fits, and someone running all of it in parallel so the raise closes on the project's timeline rather than the market's.

    Sponsors at this size typically get one of two things: a relationship-based advisor who introduces them to the handful of investors he knows, or a large bank that will not take the mandate. Saintrose was built for the space between.

    SCOPE

    Projects, platforms and properties. Equity, debt or both.

    Sectors

    • Energy

      Oil and gas across upstream, midstream and services; conventional and renewable generation; storage; transmission and grid; pipelines; nuclear fuel cycle.

    • Digital infrastructure

      Data centers and compute; fiber; towers; the power and land that serve them.

    • Real estate

      Residential and mixed-use development; logistics and industrial; commercial and hospitality; income-producing portfolios and value-add repositioning; land with planning or entitlements in place.

    Size

    $10 million to $200 million

    We place all or part of the stack.

    Geography

    Assets located in the United States and Europe. Capital sourced globally.

    Instruments

    • Development, construction and joint-venture equity
    • Platform equity
    • Preferred equity
    • Senior and mezzanine project and property debt
    • Construction and bridge loans
    • Holdco and corporate facilities
    • Tax equity, forward-funding and hybrid structures where the asset supports them

    Stages

    1. Development (permits, entitlements, interconnection, offtake or pre-lets in progress)
    2. Construction
    3. Operating, stabilized or income-producing assets and portfolios
    4. Platforms and operating companies raising growth or acquisition capital

    HOW IT WORKS

    Four stages, run in parallel where the timeline demands it.

    Assess

    Before we build materials or contact a single investor we pressure-test the project the way an investment committee will. For an energy or infrastructure asset: interconnection status and queue position, reserves or resource data, offtake and revenue contracts, EPC path and counterparty strength. For a property: site control, planning and entitlements, pre-lets or sales evidence, construction cost and contractor, exit or stabilization assumptions. For every asset: the capital stack across equity, debt and hybrid scenarios, and the sponsor's own track record. Every question a lender or equity provider will raise is answered in writing before the first outreach. Confidentiality protocols and disclosure tiers are set from day one.

    Position

    Institutional investors see hundreds of projects a year; the bar for a second meeting is differentiation, not enthusiasm. We build the investment thesis around the project's structural edge and produce the materials suite that institutional capital expects: confidential information memorandum, teaser, financial model, one-pager and investor FAQ, each engineered for the meeting it is used in, with a capital structure recommendation and the written rationale behind it.

    Match

    We maintain profiles on more than 100,000 institutional investors, including infrastructure, energy and real estate funds, private credit and direct lenders, banks and debt funds, strategic capital providers and qualified family offices in the United States, Europe and the Gulf, with current mandate status and recent activity. For every mandate we identify the providers whose check size, strategy, stage appetite and recent allocations fit the project, and we approach them in conviction order rather than by broadcast, with controlled, confidential introductions.

    Close

    Most raises die in diligence, not in the first meeting. We run the stretch from initial interest to signed documentation the way a structured deal team runs a close: parallel tracks so no single investor controls the timeline, data room and diligence-request handling measured in hours, term sheet negotiation with economics protected and structure scrutinized, and a clean handoff of investor relationships for the next raise.

    THE BENCH

    A team that has raised and structured real-asset capital at the largest scale it exists.

    Adam Wardi

    Adam Wardi

    Founder and Managing Partner

    Leads every Project Capital mandate and is the sponsor's senior point of contact on structure, terms and timeline. Finance professional and entrepreneur with institutional capital markets expertise; has raised over $100 million in the United States and deployed that capital in M&A transactions, and leads the firm's live real estate and infrastructure mandates in Europe.

    Anil Mangla

    Anil Mangla

    Advisor

    More than twenty years across BlackRock, Barclays Capital, Sera Global (a Brookfield portfolio company) and Copenhagen Infrastructure Partners. At BlackRock he was COO of a $400 billion institutional investor business, and over his career he has advised on and enabled multi-billion fundraising strategies in private markets. His exposure to sovereign wealth funds, pension funds and global allocators is exactly the investor base that funds energy, infrastructure and real estate at scale.

    Wayne Hiley

    Wayne Hiley

    Advisor

    Twenty years in corporate debt markets. Led Debt Structuring at Barclays UK Corporate Bank from 2010 to 2020 and raised over £200 billion as Head of Corporate Bond Syndicate. Project debt, property debt and corporate facilities were his desk. When we say an asset has been structured to lending standard, this is the standard we mean.

    Gary Ward

    Gary Ward

    Advisor

    Thirty years in private equity and corporate finance; former Partner of a £1 billion mid-market private equity house with an extensive personal network of family offices, funds and high-net-worth investors in the United Kingdom and Europe, the relationship-led channel that anchor commitments often depend on.

    The partners are supported by a deal team of associates and analysts across Zurich, Dubai and London who build the model, the materials and the investor universe for every mandate.

    OUR ECONOMICS

    Weighted to the close.

    Project Capital mandates are placement engagements. Where a raise is early-stage or speculative, the engagement begins with an upfront fee scaled to the mandate, which funds the assessment, the materials and the first wave of institutional outreach. The substantive economics are success fees on capital actually placed, with separate rates for equity and for debt, set out in the engagement letter. There is no monthly retainer. If the raise does not close, the substantive fee is not earned.

    FIT

    We take mandates we can execute.

    It is for you if:

    • The asset is real: an energy, infrastructure or real estate project, platform or property in the United States or Europe, with a sponsor who has built, operated or developed before.
    • There is a credible path to revenue or value: permits or entitlements, interconnection position, offtake, pre-lets, sales evidence, or a contracted income stream.
    • You need $10 million to $200 million of equity, debt or both, and the timeline is measured in months, not weeks.
    • You want a competitive process run by a team that reports to you, not an introduction to someone's friend.

    It is not for: software or technology companies with an energy or property-adjacent name · single assets or raises below $10 million · projects without a sponsor track record or a path to revenue · raises that already have an exclusive advisor.

    QUESTIONS

    We have approached investors ourselves and been told the project is too small or too early. Why would this be different?

    Because "too small" at a bank's infrastructure or real estate desk and "too small" for the capital we cover are different thresholds. Private credit, infrastructure and real estate funds below the mega-cap tier, strategic capital and family offices actively write $10 million to $50 million checks into assets like yours. The job is to find all of them, present the project to their standard and run them in parallel.

    Can you place debt and equity at the same time?

    Yes, and for most development and construction raises we recommend it, because the terms of each depend on the other. The capital stack is designed once, in the Assess stage, and each layer is placed with providers who already fit the structure.

    Do you work on European assets?

    Yes. The firm has offices in Tallinn, London, Dubai and Zurich and live mandates on both sides of the Atlantic. Capital for a European asset is sourced from the same global universe, with the regulatory arrangement confirmed per mandate.

    Oil and gas as well as renewables?

    Yes. We finance energy, not a view on energy. Upstream, midstream and services raises are assessed and placed with the same discipline as generation, storage and grid.

    How long does a raise take?

    It depends on stage and complexity. An operating or stabilized asset with contracted revenue moves fastest. Development-stage projects take longer because the diligence is deeper. We map the cadence and milestones at kickoff and report weekly against them.

    Will our project be shopped around?

    No. Outreach is conviction-ordered and confidential, with disclosure tiers set at the start. Investors receive an anonymized teaser first and full materials only after a non-disclosure agreement.

    Tell us about the project.

    A thirty-minute conversation with a partner. We will tell you whether the raise is executable as structured, what the capital you need will ask for, and whether Saintrose is the right firm to run it.