Adviser and investor, on the ground.
Investment, capital and sovereign & development advisory from our FCA-regulated UK platform, for institutions, family offices, companies, governments and development-finance institutions. We prepare projects to the standard private capital requires, and we can invest behind them.
Figures cover engagements delivered since 2020, as at October 2026.
Three practices, one standard.
All three sit inside the FCA-authorised UK entity, with research and execution support from our teams in the Levant and South Asia, and operations on the ground in West Africa.
Investment Advisory
Portfolio advice with the decision kept by the client, and independent valuation of hard-to-value fund portfolios and distressed positions.
Investment Advisory →Capital Advisory
Capital raising, transactions and due diligence, restructuring, and strategic and business advisory for mid-market companies and projects, often cross-border.
Capital Advisory →Sovereign & Development
Project advisory for states, DFIs and development programmes, prepared and delivered to investor standards, including impact, ESG and climate work.
Sovereign & Development →Five stages, one standard.
The same passage on every mandate, whichever practice it sits in. Most start with a four-week study: one named asset, a fixed fee and a written recommendation either way.
Understand
We start with your actual question, not our template. Scope, timeline and commercial terms are stated at the outset.
Assess
Evidence assembled and verified in the field. Every number that leaves the firm has a source, a check and a signature.
Recommend
A defined first engagement: four weeks, a fixed fee, and a written recommendation either way.
Execute
From business case to close: investment materials, counterparties and transaction support.
Stay
Implementation support, monitoring and ongoing counsel. Our longest relationships renew year after year.
Representative mandates.
Client names are withheld; references are available to qualified parties on request. Open a summary for the detail; full case studies sit on each practice page.
Six-country cocoa value-chain initiative
The situation
A pan-African trade-finance institution needed an investable architecture for intervening across the West African cocoa value chain: six countries, from farm-gate aggregation to processing and export.
What we did
Three research papers, an investment-committee-grade financial model of a vertically integrated platform, and the final recommendation to the executive: terms of reference to the executive table in one cycle.
The outcome
The programme was approved for US$25m of equity and US$35m of debt, and is moving toward implementation.
Independent fund-portfolio valuation for a European bank
The situation
A European bank held positions across hard-to-value trade-finance funds spanning multiple jurisdictions and hundreds of underlying companies, including side-pocketed and workout assets. It needed valuations its auditors could rely on.
What we did
We analyse the funds line by line, including the side-pockets, and build market-participant valuation models over the administrators’ NAVs, each asset banded by time-to-cash and execution risk, with bull, base and bear scenarios.
The outcome
Our reports have supported the bank’s committees and been relied on by its external auditors each year: engaged in 2020, renewed every year since, the latest renewal at three times the original rate.
Due diligence on a West African cocoa processor
The situation
The impact arm of a pan-African development bank was preparing a convertible-note investment into a cocoa processor, and needed an independent view of achievable production and the value of its security.
What we did
We rebuilt the financial model from the underlying accounts, walked the process line on site, and verified the customer story through our own trade network rather than the target’s reference list.
The outcome
A 76-page report and 22-tab model, contract to delivery in six weeks. Re-tested in 2026 against later accounts: the specific risks identified in 2023 were the ones that materialised.
National inspection strategy for a sovereign
The situation
A Central African state ran a national vehicle-inspection regime with compliance below 30%: a revenue and road-safety failure.
What we did
We designed the national strategy around a tiered pricing model: affordability-calibrated fees, enforcement sequencing and an implementation path bankable for private operators.
The outcome
A design targeting compliance toward 90%, structured so the economics work for the state, the operator and the citizen.
Special-situations review, Indonesian cocoa processing
The situation
A US impact fund held a US$30m senior secured facility into Indonesia’s fourth-largest cocoa processor. Payments had been deferred; the lender needed independent ground truth, not another desk review.
What we did
We went to the factory: machinery, plant flow, hygiene and procurement, tested against our own cocoa-market analysis. Real operating capacity was about 25,000 MT against a 92,500 MT nameplate. We built a three-phase recovery plan.
The outcome
An evidence-based view of what the asset can actually do, a workout roadmap in priority order, and a clear immediate action: secure the trade line first.
Operational turnaround, Egyptian distribution
The situation
A leading Egyptian auto-parts distributor was strained not by demand but by its own working-capital cycle, in a market where import costs and currency pressure punish slow turns.
What we did
Working through a local partner firm, we built the restructuring plan around the cash-conversion cycle: inventory discipline, receivables management and a route-to-market redesign.
The outcome
A restructuring plan delivered to the principals in 2023, reorganising the distribution model around cash generation rather than volume.
Full case study →Field-delivered EUDR traceability, Ondo State
The situation
EU deforestation regulation makes untraceable cocoa unsellable into Europe. A European buyer required farm-level traceability to its own specification.
What we did
Farmer registration, geolocation polygon mapping and certification alignment with Rainforest Alliance standards, delivered by our own team in-country.
The outcome
A registered, geolocated supply base meeting the buyer’s specification: EUDR readiness as delivered infrastructure, not a policy PDF.
Full case study →Conflicts of interest. Lundy may act as adviser on a project and, separately, as a potential investor in it. Where that possibility exists, we disclose it to the client in writing before the engagement begins, and manage it under the firm’s conflicts-of-interest policy. Any investment by a Lundy fund requires its own investment-committee approval.
Start with the four-week study.
One named asset. A fixed fee. A written recommendation either way.