The partner is the decision
A partnership is a structure, and it is chosen rather than accepted.
Partnership development covers the identification, assessment and structuring of the local relationship a project depends on — joint venture shareholder, sponsor, operator, landholder, contractor or distributor. It runs from writing down what the partner must actually supply, through search and integrity diligence, to the governance architecture of the agreement and the management of the relationship after signature.
In many sectors the local partner is not optional. Ownership rules, licensing conditions, land control or simple operational reality make one necessary. That necessity is precisely why the choice deserves the same rigour as the investment itself, and precisely why it is so often made quickly.
The firm takes its name from the idea of brotherhood, which is a deliberately high standard to invoke. The practical content of that standard is this capability: partnerships entered on verified information, with obligations understood on both sides, structured to survive the year in which they are tested.
The partner is usually chosen by availability rather than by fit.
By the time any of this becomes visible the investor is committed: capital deployed, approvals obtained in the joint entity’s name, and an exit that requires the other side to agree. Diligence and governance design are cheap at the start and unavailable later.
Six pieces of work, in sequence.
- 01
Partner requirement definition
We begin by writing down what the partner must actually supply, in terms that can be tested: land with clean title, an existing licence or concession, demonstrable operating capability, capital at a defined proportion, distribution or market access, or standing with a specific institution. Most disappointing partnerships fail this step rather than a later one, because the parties never agreed what the local side was for. The specification also determines what the partner is entitled to receive, which is where the eventual economics start.
- 02
Market scan and longlist
Against that specification we search systematically — corporate groups, family conglomerates, sector operators, contractors, landholders and, where relevant, state-owned entities — rather than working from whoever is already in contact with the client. The longlist is documented with the reasoning for inclusion, so that the eventual choice can be explained to a board as a selection rather than an acceptance.
- 03
Screening and integrity diligence
Candidates are screened before any substantive discussion: corporate and beneficial ownership structure, sanctions and watchlist exposure, politically exposed connections, litigation and enforcement history, regulatory record, financial standing where it can be established, and adverse media in both English and Bangla. Findings are reported as found, with sources shown and open questions flagged rather than smoothed over.
- 04
Structured introduction and mutual assessment
Introductions are made only once screening is complete, and they are structured. Both parties receive the same brief on what is being explored, meetings have an agenda and a record, and the local party is given a fair opportunity to assess the investor in return. A partnership entered on asymmetric information is one that adjusts later, usually at the point of maximum inconvenience.
- 05
Term sheet and governance design
We work with the client’s counsel on the architecture rather than the drafting: contribution and valuation of what each side brings, board composition, reserved matters, funding obligations and the consequence of failing them, deadlock resolution, transfer restrictions, non-compete boundaries, and exit. The test we apply is simple — read every clause as though the relationship has broken down, because that is the only condition in which it will be read.
- 06
Relationship management after signature
A partnership is a live obligation, not a completed transaction. We keep a schedule of review points, track undertakings on both sides, and remain available to the parties when something needs to be raised before it becomes a dispute. Most joint venture failures we have seen began as an unaddressed irritation in the second year rather than a disagreement in the first.
A decision that can be defended, not an introduction.
Partner requirement specification
A written statement of what the local party must supply and what it is entitled to receive, agreed with the client before any search begins.
Longlist and selection rationale
The candidates identified, why each was included, and why those not shortlisted were set aside — so the eventual choice is documented as a decision.
Integrity diligence findings
Ownership and control, sanctions and watchlist exposure, politically exposed connections, litigation and enforcement history and adverse media, with sources and residual questions stated.
Comparative assessment
Shortlisted parties set against the specification on capability, capital, standing and risk, so that the trade-offs between them are visible rather than argued.
Term sheet architecture
The commercial and governance structure of the proposed relationship — contributions, control, funding, deadlock and exit — prepared for the client’s counsel to draft from.
Partnership review schedule
Review points, reporting obligations and the register of undertakings on both sides, handed to the people who will run the relationship after close.
Foreign Direct Investment
Joint ventures formed at market entry, where the local shareholding is a regulatory requirement as often as a commercial choice.
Ports & Strategic Development
Terminal and zone projects requiring an operator, a landholder and frequently a state entity in the same structure.
Mining & Natural Resources
Licence-holding partnerships where the counterparty controls the permission and the community relationship that sustains it.
Technology & Innovation
Distribution, integration and data infrastructure partnerships in which capability is easy to claim and hard to verify.
What this capability does not include.
Not a brokerage
We are not paid per introduction and we do not act for both sides of a relationship we have arranged. Any interest the firm holds is disclosed in writing before an introduction is made, under the conflicts of interest policy.
Diligence is not a warranty
Integrity screening establishes what can be established from available records and public sources on the date it is performed. It does not verify what has been concealed and it is not a forensic audit or an assurance of solvency.
Not legal drafting
We design the commercial and governance architecture of a partnership. The agreements themselves are drafted and executed by licensed counsel, whose advice takes precedence over ours on any point of law.
No partnership at any price
Where diligence produces a finding the client cannot accept, or where no candidate meets the specification, the honest advice is that the partnership should not proceed. We give it.
The standards applied to counterparty screening and to our own interests are published in the Client Due Diligence Standard and the Conflicts of Interest Policy.
Investment Facilitation
Government Relations
Regulatory Engagement
Before the partner is chosen
The most valuable point at which to involve us is before commercial terms have been discussed with anybody. Enquiries are reviewed by the partnership and answered directly.
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