Approach

From sourcing to signature, 186 Capital manages the parts of a late-stage private trade that usually break it: ROFR clearance, board approval, and issuer alignment, so transactions close instead of stalling.

We coordinate with company counsel and our in-house legal team across the US, UK, and Asia to pre-approve closing mechanics before a deal ever reaches the table. Every structure we build is designed around what issuers actually want: pre-vetted buyers and cap table control, not fragmented bilateral trades.

Sourcing & Diligence

We identify seasoned assets across GP-led and employee programs, screening for fit with investor demand and issuer requirements before a process advances.

Valuation, data quality, and diligence are coordinated early so each opportunity is ready for structured execution rather than an ad hoc trade.

Structuring & Alignment

We design the vehicle, whether an SPV, continuation fund, or tender offer, around sponsor, investor, and issuer requirements.

Ownership, governance, ROFR, and closing mechanics are aligned before launch, increasing the likelihood that a trade is approved instead of blocked.

Execution & Closing

We manage ROFR processes, approvals, counsel coordination, and settlement with the parties responsible for closing.

By resolving mechanics directly and keeping the process coordinated, cycle times shrink and fewer transactions fail late in the process.