In this revealing Q&A session, CGW’s Founder and Strategic Director Peter Doyle (PD) speaks with II Publisher Gary Robinson (GR) to discuss the alternative, sophisticated investment market — and why it’s proving so popular with experienced HNW and UHNW investors.
GR: What makes CGW stand out against the competition?
PD: It comes down to alignment, clarity, and control — three elements often missing in today’s capital landscape. That’s why we adopted our SOS Model: to be involved in every aspect of the sourcing, originating, and structuring of each solution we bring to the table.
At CGW, every mandate begins with one question: “Is this structure aligned with capital preservation and yield clarity?”
We say “no” more often than “yes” — because our value isn’t in the deal count; it’s in ensuring each structure protects principal and performs under volatility. We sit between issuers and allocators to design bespoke private credit structures that prioritise downside protection.
Based in Dubai, we benefit from a unique vantage point: capital inflows from Europe, Asia, and the Gulf — without the concentration risk of single-market exposure. Our investor base leans conservative: family offices, principals, and credit committees who care more about preservation than projections. Our track record is lived, not just listed. Over $755M has been structured across global mandates — and every transaction has passed through a lens of structural clarity, enforceability, and capital stewardship.
GR: What are your current offerings?
PD: Our exclusive mandate means we are fully committed to Manhattan Private Credit Markets, including institutional litigation funding through a regulated fund, and a direct investment solution involving a private equity variant.
GR: Peter, what is your background? And how did you get into this form of investment?
PD: I worked for an independent asset manager in 2011 in Dubai and came into this through a baptism of fire. I learned quickly how to do business here — and more importantly, how not to do business here. I got into product by necessity.
Like many in private credit, I didn’t start here — I arrived through the gaps I kept seeing in traditional capital markets.
Early in my career, I worked on both sides of the table — first advising companies on growth and financing, then helping investors deploy capital across public and private markets. What stood out wasn’t just the complexity, but the misalignment: between capital providers and users, between risk and reward, and between structure and outcome.
I launched Consult Group Worldwide in Dubai with one focus: to help capital behave more predictably. That led us to structured private credit — a space where you can engineer clarity, enforce discipline, and preserve capital in a way that’s often lost in liquid markets.
Over the past decade, we’ve structured over $755M across mandates — not by chasing scale, but by focusing on alignment, clarity, and control. We work with family offices, principals, and credit committees who think defensively and value real visibility into how capital is protected.
GR: These investments are for sophisticated investors only. How do you ensure that investors fully understand the risks?
PD: Firstly, we only work in a B2B capacity and ensure our networks are aligned. Their clients are usually asset/portfolio managers, private bankers, IFAs, wealth managers, and select family offices.
At CGW, our role isn’t to sell yield — it’s to illuminate structure. That means being brutally transparent about:
- How capital is protected — and under what conditions that protection can break down.
- Where risks concentrate — in counterparties, jurisdictions, or assumptions.
- What happens in default scenarios — who gets paid, when, and how.
Every transaction comes with a walk-through of structural risks, legal enforceability, and payment mechanics. We often simulate downside scenarios, ask “What if?” relentlessly, and pressure test assumptions before a mandate moves forward.
Most importantly, we treat our investors as peers — not clients.
That means no euphemisms, no overpromises, and no capital raised until comprehension is mutual.
We’d rather walk away from a transaction than see capital deployed without full clarity.
That’s how you build trust that compounds.
GR: With recent issues and money lost on some loan notes — for example, Godwin 8 — how can you reassure investors that this won’t happen to them?
PD: I think there’s a misconception here, as we are offering a regulated fund version and a promissory note — not a loan note. We operate in a very different market to these types of offerings. For a start, the minimums are much higher, and only sophisticated and professional investors qualify.
First — no one can guarantee outcomes. But you can engineer protections. And that’s where CGW stands apart.
The failures we’ve seen — including recent UK real estate loan note defaults — typically come down to three avoidable oversights:
- Unsecured exposure with vague collateral links.
Many of these notes were sold with the illusion of asset backing, but the legal structures provided no enforceable claim on real assets. We never proceed unless the collateral is real, ring-fenced, and legally enforceable across jurisdictions. - Weak oversight and no independent governance.
Investors in failed notes often had no visibility into the use of funds, cash flow, or covenant breaches until it was too late. At CGW, we insist on trustee oversight, transparent reporting, and payment controls — not just paper protections. - Issuer-led marketing with no intermediary risk filtration.
Godwin and similar structures were often issuer-promoted, with minimal third-party due diligence. In contrast, CGW sits between issuers and allocators — we interrogate every structure, often rejecting 95%+ of what comes across our desk.
So, how do we reassure advisors and investors?
- We structure for enforceability — not just yield.
- We work with trustees and legal counsel from day one — not post-issue.
- And we walk away if alignment isn’t crystal clear. After 13.5 years, we’ve whistle-blown on three products.
We’ve turned down issuers with strong marketing but weak protections — because in our world, capital preservation > distribution velocity.
GR: Thank you, Peter, for your insights.
PD: Thank you.
