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In the work we do, we seek what endures.

Trust. Discernment. Capital.

Transaction Advisors ยท Wealth Architects
S92 conviction

Built for those who measure success in legacies

We serve founders, family offices, sovereign principals and institutional capital who think in generations. Every engagement begins with the same question โ€” what is the legacy you are building?

Read our conviction
Multi-generational wealth

The architecture of multi-generational wealth

Why the next decade of cross-border capital will be defined not by who holds it, but by who structures it with intelligence. The S92 framework for wealth that compounds across generations.

Read the framework
By invitation

By introduction. By invitation. By design.

We accept a deliberately small number of mandates each year. This is not constraint โ€” it is the architecture of how we deliver outcomes our clients carry for generations.

How we engage
ยฃ3.5B+Transaction value led by our founders across prior engagements
8Global offices across four continents
2+Decades of combined senior deal-making experience
100%Principal-led. Every engagement. Every time.
London

The advisory firm built around the client.

S92 is not an investment bank. We are transaction advisors and wealth architects โ€” practitioners who have personally led complex cross-border deals across four continents. We are senior counsel for principals who want depth, not scale.

What follows from our first conversation is bespoke. No standard playbooks. No junior teams behind pitch decks. Just senior judgement, deep cross-cultural networks, and the kind of discernment that distinguishes a great deal from a merely good one.

Discover the S92 approach

Our Code

The principles that govern every mandate.

Our standing is the only asset we cannot afford to lose. These four principles govern every mandate, every introduction, every conversation. They are not aspirations โ€” they are the operating system of the firm.

I.

The Truthful Deal

We disclose what others would hide. Every term, every risk, every consideration is brought into full sight. A transaction built on full disclosure stands. One built on partial sight falls.

II.

The Trusted Hand

Capital placed in our care is a trust. We handle every mandate as though we will be asked for a full accounting of every detail โ€” because we will be. By you, by the work, and by what comes after.

III.

The Mutual Win

We will not structure a deal that benefits one side at the cost of the other. Asymmetric deals do not endure. Mutual deals compound โ€” for both counterparties, and for generations.

IV.

The Long Relationship

We do not chase mandates. We earn standing. We work with principals once, then for decades. The deal is the moment. The relationship is the asset that compounds over a lifetime.

What can we build together?

Transaction Advisory

M&A Advisory

Buy-side, sell-side, and merger advisory across borders. Cross-cultural transactions structured to serve both counterparties โ€” and to endure.

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Capital Raising & Structuring

Direct access to sovereign wealth, institutional allocators, family offices, and private capital. Bespoke equity, mezzanine and hybrid instruments, matched to purpose.

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Strategic Partnerships & JVs

We identify and structure joint ventures between principals who share vision and values. Trust is not the precondition for our deals โ€” it is the architecture of them.

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Family Office & Private Capital

Multi-generational wealth strategy, governance design, and proprietary deal flow for principal family offices. Where capital becomes legacy โ€” and legacy compounds.

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Corporate Advisory

Strategic Sourcing & RFx Leadership

End-to-end leadership of RFPs, RFIs and RFQs for high-value procurement and vendor decisions. Outcome-based contracting and commercial governance that protects the value created.

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Corporate Strategy & Transformation

Board-level advisory on strategy formation, business model design, and full-scale corporate transformation programmes. From category strategy to enterprise-wide change.

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Commercial Negotiation & Contract Structuring

Harvard-trained commercial negotiation, deal structuring, and outcome-based contracting. The disciplines that turn a good agreement into one that creates lasting value for both sides.

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Sovereign & Market Entry Advisory

End-to-end advisory for principals entering new markets โ€” regulatory navigation, the right partners, sovereign engagement, and structures that compound competitive advantage.

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Track Record

A record built on trust.

Our founders have personally led, originated, structured or advised on transactions with combined value exceeding ยฃ3.5 billion โ€” across Africa, Europe, the Middle East and Asia. The selection below, anonymised in keeping with the confidentiality owed to our clients, represents the breadth of the work.

I.

Cross-Border M&A & Strategic Transactions

  • Sole financial advisor on the sale of a landmark mixed-use property in Africa โ€” one of the largest property transactions in the country's history.
  • Strategic M&A advisor to a leading African insurance group on a ยฃ1bn+ revenue acquisition.
  • Buy-side counsel to a Gulf-based family office on the acquisition of a controlling stake in a UK financial services platform.

II.

Sovereign Capital & Government Advisory

  • Capital raising mandate for an African sovereign โ€” ยฃ500m of foreign direct investment structured alongside a national development strategy.
  • Cross-border allocation strategy for a GCC government investment authority.
  • Special Economic Zone design and inbound FDI strategy for an East African government.

III.

Corporate Transformation & Commercial Advisory

  • ยฃ200m+ enterprise software programme at a FTSE-listed energy group โ€” including a vendor-underwritten outcome-based commercial framework recognised within the industry as a possible first of its kind.
  • ยฃ150m IT transformation programme at a UK utilities group โ€” delivering ยฃ40m in savings over three years.
  • Commercial restructuring of a global airline during capital recovery โ€” delivered 75% above original mandate.

IV.

Family Office & Multi-Generational Wealth

  • Multi-generational capital strategy for a principal GCC family office โ€” across real assets, financial services and emerging-market platforms.
  • Cross-border portfolio construction for a Southeast Asian dynasty operating across four jurisdictions.
  • Succession planning and governance advisory for a Gulf-based family enterprise with operations across three continents.

V.

Infrastructure & Real Assets

  • Offshore oil & gas commercial strategy advisory for an East African government.
  • Cross-border infrastructure joint venture structuring between a GCC sovereign and an African development authority.
  • Renewable energy platform structuring across MENA and Sub-Saharan Africa.

VI.

Capital Raising & International Investment

  • ยฃ2.5bn cross-border deal portfolio managed at a leading African deal-making house โ€” with international investor placement across the US, Europe, Russia and the UAE.
  • Structured equity for a Turkish industrial group's expansion into emerging markets.
  • Mezzanine financing arrangement for a UK private healthcare platform.

By the numbers

ยฃ3.5B+Aggregate transaction value led, originated, structured or advised on
4Continents of active deal experience
20+Years of combined principal-level deal-making
100%Senior-led on every engagement, end-to-end

All figures reflect the combined principal-level experience of our founders prior to and during their work at S92. Client identities are protected by long-standing confidentiality obligations.

By Invitation Only

The deal that should not be made is a deal we will not make.

Our Conviction

S92 is a private firm for principals who measure success in legacies, not league tables.

We work with a deliberately small number of clients. This is not constraint โ€” it is the architecture of how we deliver. When we engage, we engage with our full attention, our full network, and our full standing behind every conversation we have.

Every client receives unconditional access to our founders, absolute confidentiality, and the deep cross-cultural networks that make complex cross-border work possible. For founders, family offices, sovereign principals and institutional capital โ€” we are the firm built around you.

Discernment

We see what others overlook. We hear what others miss.

Standing

Earned, mandate by mandate. Protected on every deal.

Legacy

Outcomes measured in generations, not quarters.

Insights on growing wealth

Perspectives from the frontier of global capital โ€” written for founders, family offices and institutional principals shaping the next chapter of their wealth.

See all insights
Multi-generational wealth

Wealth Strategy

The architecture of multi-generational wealth

Apr 22, 2026

How the world's most enduring family fortunes are being restructured for the next century โ€” and what every principal can learn from those who think in generations rather than cycles.

Read more
Smart capital emerging markets

Capital Deployment

Where the smart capital is being deployed in 2026

Mar 18, 2026

The most discerning allocators have identified the cross-border opportunity in emerging markets as the asymmetric play of the next decade. The S92 framework for capturing it.

Read more
Cross-border positioning

Cross-Border Capital

The compounding power of cross-border positioning

Feb 04, 2026

In a fragmenting world, the principals who build true connectivity across regions don't just preserve their wealth โ€” they multiply it. The case for thinking and investing globally.

Read more

The Founders.

S92 was founded by two practitioners who have personally originated, structured and executed complex cross-border transactions across four continents. There are no delegated mandates โ€” every engagement is led from the top.

Co-Founder & Co-CEO

Hasnain Muthalib

Hasnain Muthalib is Co-Founder and Co-CEO of S92 Capital Advisory.

Hasnain has nearly two decades of experience advising principals on their most consequential commercial decisions. His counsel has been delivered at Presidential and Ministerial level on matters of national consequence, and to the boardrooms of leading institutions, family offices and sovereign entities on matters of private consequence. He is fluent in both public and private deals.

He carries deep market knowledge of Africa, Europe, the Middle East and Asia, having originated and led complex cross-border transactions across all four regions. He has structured commercial frameworks recognised within his industry as firsts of their kind.

Hasnain founded S92 to serve principals who require the depth, discretion and senior judgement that the largest institutions cannot offer at scale.

Co-Founder & Co-CEO

Bilal Ajaib

Bilal Ajaib is Co-Founder and Co-CEO of S92 Capital Advisory.

Bilal has over fifteen years of experience at the intersection of sovereign wealth, cross-border M&A and institutional capital. He has advised royal family offices, sovereign wealth institutions and ultra-high-net-worth dynasties across the Gulf, South Asia and Southeast Asia on the multi-generational capital strategies that define their families' standing.

A serial entrepreneur, Bilal has built, scaled and exited businesses across multiple sectors and geographies. He reads transactions with the eye of a builder as much as an advisor โ€” a perspective shaped by years of putting his own capital alongside that of the principals he serves.

His network spans the leading sovereign allocators of the GCC, the institutional capital pools of Southeast Asia, and governmental stakeholders across every market S92 operates.

Where we operate.

Our offices are positioned at the world's most important intersections of capital, culture and commerce. Eight cities. Four continents. Wherever the right deal is โ€” we are already there.

Contact our offices
London
LondonHeadquarters ยท UK
01
Doha
DohaQatar
02
Madinah
MadinahSaudi Arabia
03
Tokyo
TokyoJapan
04
Bali
BaliIndonesia
05
Singapore
SingaporeSE Asia Hub
06
Hong Kong
Hong KongEast Asia
07
Kuala Lumpur
Kuala LumpurMalaysia
08

Who we serve.

Family Offices & Principalsโ†’ Sovereign Wealthโ†’ Founders & Entrepreneursโ†’ Institutional Investorsโ†’ Financial Services & Fintechโ†’ Infrastructure & Real Assetsโ†’ Energy & Renewablesโ†’ Real Estate & Hospitalityโ†’ Healthcare & Life Sciencesโ†’ Agriculture & Agri-Businessโ†’ Technology & Digitalโ†’ Industrials & Manufacturingโ†’

Contact

If you have been told of us, you will know how to reach us.

The most considered introductions are made between people who already share trust. For those, the details below are sufficient. Every enquiry is read by a founder. Every reply is written by one.

Correspondence info@s92.co.uk
London Battersea, London

S92 Capital Advisory Ltd operates as a private advisory firm in compliance with applicable UK regulation. All correspondence is treated with strict confidentiality.