Due diligence for private capital, read from the operating business up.
Independent due diligence for investment dealers, institutions and corporations.
The Manager is paid an annual fee of 1.00% of gross asset value. The Trust may borrow up to 68% of gross asset value.
The Manager earns 20% of any increase in Net Asset Value above a high-water mark that resets every three years. The Manager also determines Net Asset Value.
The Trust targets annual distributions of 8.0% on invested capital. It buys properties at an average capitalization rate of 4.4%, with debt costing 5.25%.
Sample review of a fictitious trust. Request the full report.
Due diligence and advisory
Written work for investment committees, dealer product teams and corporate boards. Analysis first, with commentary on what it means for the decision in front of you.
Offering memorandum review
Structure, fees, waterfalls, distribution policy, conflicts and disclosure in private fund and project offerings.
Capital raise readiness
A pre-launch read of your offering documents the way a dealer or institutional investor will read them.
Buy-side due diligence
Quality of earnings, working capital, concentration and operating review for acquirers of private businesses.
Cost of capital and valuation
Return hurdles, discount rates, capital structure and a sense check on the price.
Transaction advisory
How to think about a purchase or a sale: structure, process, negotiation and risk allocation.
Who we work with
Institutional and corporate clients, and accredited investors for our research. We do not serve retail investors.
Investment dealers
Product and compliance teams that need a clear, independent view of private offerings before they reach the shelf.
Institutions and family offices
Institutions, family offices and accredited investors weighing private investments, and readers of our independent research.
Corporations and sponsors
Acquirers and sellers of businesses, and private equity and real estate sponsors raising capital and widening distribution.
What we seek
Wisdom. Motomeru means to seek, and in every engagement wisdom is what we are after, whatever form it takes: a finding, a question the sponsor had not asked, a reason to walk away.
Tradition puts wisdom at the top of the mountain, and the way up is patient. We read the document, then the business underneath it, then look again from higher up.
- Operator's lens. We start from how the business makes money, not from a model or a public-market comparison.
- Structure before returns. Fees, waterfalls, redemption terms and valuation policy shape what investors actually receive.
- Trade-offs stated plainly. Private markets reward patience and carry real risks. A good report says both.
Have an offering or a deal to review?
Send the offering memorandum, a data room link, or a short description of the transaction. We will reply with scope and fees.