Research & Writing
Research & Writing
Analysis across private credit, venture capital and emerging markets, developed from public information and my experience across finance.
Private Credit ·
Private Credit in Asia: Beyond the Yield
Asia's private credit opportunity is highly fragmented. The underwriting challenge is to connect borrower cash flow with currency, rates, jurisdiction and recovery rather than stop at headline yield.
Private Credit ·
Financing the AI Infrastructure Era
The AI race is increasingly a financing race. Trillions of dollars of data-centre, compute and power investment are creating a funding gap that could pull private credit and asset-backed finance deeper into digital infrastructure.
Private Credit ·
Repo vs. Warehouse Facilities: Financing Credit Before the Exit
Repos and warehouse facilities both provide secured financing, but they solve different problems. Understanding the distinction helps explain how credit portfolios are funded, accumulated and ultimately securitised.
Private Credit ·
ABS Markets: From Collateral to Capital Markets
The return of securitisation activity after the summer highlighted the flexibility of ABS: pools of consumer, commercial and specialised assets can be transformed into tranched capital-markets funding.
Private Credit ·
Private Credit and the Asymmetry of Default Risk
Private credit can offer attractive contractual income, but the lender's payoff is asymmetric: upside is capped while credit losses can be substantial. That makes defaults, recoveries and underwriting discipline central to returns.
Venture Capital ·
From Startups to Scaleups: Italy's Venture Capital Challenge
A day with founders and investors at OGR Torino reinforced a broader question about Italian venture capital: the ecosystem can create ambitious startups, but can it provide the capital, networks and conditions required to scale them?
Venture Capital ·
Central and Eastern Europe: Venture Capital's Underfunded Frontier
CEE has produced globally relevant technology companies despite receiving relatively limited venture capital. Its combination of technical talent, capital efficiency and deep-tech capability is compelling — but the region still struggles to fund companies at scale.
Markets ·
The Rise of South–South Trade
How expanding trade between developing economies is reshaping the geography of global commerce — and why the shift matters for investors looking beyond the traditional North–South framework.
Markets ·
Demographics and the Rebalancing of Global Growth
Population growth is becoming increasingly concentrated in developing economies. The divergence between a rapidly growing Africa, an ageing Europe and a still-dominant Asia could reshape consumption, labour markets and the geography of long-term investment.
Markets ·
Emerging Markets as Engines of Global Growth
In early 2024, IMF forecasts highlighted a striking growth gap between several large emerging economies and the global average. The more durable question is what turns rapid GDP expansion into long-term, investable growth.
Personal opinion based solely on public information. Not investment advice and not an offer or recommendation. Views are my own and not those of my employer. Full disclaimer.