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Education Centre

Understand Before You Originate

A complete library on private credit and structured financing — the mechanics, the products, the case studies, and the research. Written for sponsors, advisors, and intermediaries who prefer to understand the architecture of the transactions they bring.

In-Depth Guides

The Complete Structures Library

Detailed, self-contained guides on the mechanics of private credit and structured financing — from first principles to the advanced structuring of cross-jurisdictional transactions. Each guide stands on its own; read in any order.

Securities-based lending (SBL) allows a client to borrow against the value of an investment portfolio — equities, bonds, ETFs, and in some cases alternative assets — without selling those holdings. The portfolio acts as collateral, and the client draws liquidity that can be used for almost any lawful purpose: real estate acquisition, business expansion, bridge financing, or tax payments.

For an originator like Commanding Capital, the facility is provided by a capital partner. Our role is to assess the opportunity, match the sponsor to the right partner and structure, and coordinate the arrangement end to end — the client never deals with a generic product off a shelf.

The defining advantage is preservation: the client retains ownership, upside, dividends, and voting rights on the pledged assets while accessing the capital they require. The defining responsibility is that the portfolio must support the loan through market cycles — which is why structuring matters as much as the rate.

Key Takeaways
  • You retain ownership of pledged assets — no forced sale, no capital gains trigger.
  • Facilities are provided by capital partners; the originator structures and coordinates.
  • Use of proceeds is broadly flexible, subject to the lender's terms.
Our Advantage

Sophisticated Solutions for Sophisticated Clients

At Commanding Capital, we understand that high-net-worth clients worldwide require more than standard financing products. Our structured solutions are crafted with the precision your portfolio deserves.

70%
Maximum Loan-to-Value
4.9%
Starting Rate p.a.

Maintain Market Exposure

Keep your investments working for you while accessing the liquidity you need.

Competitive Rates

Rates starting at 4.9% APR, significantly lower than traditional personal loans or margin accounts.

Fast Funding

Get approved in hours and funded within 24-48 hours. No lengthy waiting periods.

No Forced Liquidation

Generous maintenance margins and proactive alerts help protect your portfolio.

Flexible Repayment

Interest-only payments available. Repay on your schedule with no prepayment penalties.

Tax Efficient

Potentially defer capital gains by borrowing instead of selling appreciated securities.

Structures We Originate

Bespoke Capital Structures

We originate a range of structured financing solutions — connecting sponsors to capital partners for liquidity, monetisation, and strategic flexibility. Each structure is arranged with a regulated capital partner; we qualify, structure, and coordinate the mandate end to end.

Core Structure

Securities-Backed Credit Facilities

Access liquidity against a listed portfolio without triggering a sale. A capital partner provides the facility; we originate and structure the arrangement — unlocking capital while the sponsor retains market exposure and potential upside, with no forced liquidation.

  • Loan-to-Value up to 70%
  • Competitive variable rates
  • Funded within 24–48 hours
  • Interest-only options available
Structured Solution

Variable Prepaid Forward Contracts

A hedging and monetisation strategy for concentrated equity positions. A Variable Prepaid Forward (VPF) delivers an upfront cash payment today while deferring the delivery of shares — and potential tax obligations — to a future date, with built-in flexibility on the final settlement price.

  • Monetise concentrated positions
  • Defer capital gains exposure
  • Retain partial upside participation
  • Customisable settlement terms
Strategic Structure

Equity Commitment Facility

A committed equity facility securing access to capital at agreed terms for future deployment — ideal for sponsors who anticipate liquidity needs and wish to lock in favourable conditions in advance.

  • Pre-agreed facility terms
  • Flexible drawdown schedule
  • Certainty of capital access
  • Bespoke structuring available
Digital Assets

How We Handle Digital Collateral

Cryptocurrencies and tokenised assets are an accepted collateral class within our structured financing — but only under the same institutional discipline we apply to any other asset. Security, custody, and legal enforceability are non-negotiable, and we bring the same professional, measured approach that defines every Commanding Capital engagement.

Institutional Custody

Collateral is held with regulated, tier-one custodians and qualified depositories. We do not self-custody client assets, and segregated accounts keep holdings legally and operationally distinct from our own balance sheet at all times.

Segregation & Security

Wallets and accounts are segregated, access is multi-signature with hardware-backed controls, and movement requires multiple independent approvals. Cold storage is used wherever the holding period allows, reducing exposure to hot-wallet compromise.

Valuation & Haircuts

Positions are marked to liquidation value against deep order books, with conservative haircuts reflecting realised volatility and a stressed liquidation scenario. Loan-to-value ratios are monitored continuously, with transparent margin calls executed well before distress.

Legal & Regulatory

Every facility is documented under enforceable security agreements, with perfected security interests and clear title. We work with specialist counsel across jurisdictions to ensure collateral is properly pledged and recoverable in an adverse scenario.

Our Commitment

  • We never take title of client collateral — it remains pledged, not transferred.
  • Counterparties are vetted institutional custodians, exchanges, and depositories — not unregulated venues.
  • Structures are sized to absorb multi-standard-deviation drawdowns before any margin event.
  • Every engagement is governed by a written security and custody protocol the sponsor reviews in advance.

The Process

Counterparty, source-of-funds, and collateral provenance are verified before any facility is contemplated, in line with the same due diligence applied to traditional asset classes.
Representative Engagements

Case Studies in Structured Origination

Representative engagements illustrating how sponsors and intermediaries have secured structured capital through our origination network while preserving their underlying positions.

Our Approach to Discretion

Confidentiality is foundational to our firm. The scenarios below are representative composites drawn from real engagements — identifying details have been intentionally generalized. Each mandate is conducted under strict non-disclosure, on a relationship-managed basis. We never disclose client names, holdings, or transaction specifics.

Real Estate Sponsor

Client 01

Real Estate Sponsor

New York, NY

Founder with a $12M concentrated equity portfolio seeking capital for a commercial property acquisition.

$4.0M
Facility Size
65%
LTV
36 hrs
Time to Fund

Challenge

Needed $4M in short-term capital to close on a prime development site, without triggering a taxable sale of appreciated tech holdings.

Solution

Originated a securities-backed credit facility with a capital partner at 65% LTV, secured against a diversified equity portfolio.

Outcome

Funded within 36 hours. Retained full market exposure and deferred an estimated $920K in capital gains taxes.

Sponsor / Operator

Client 02

Sponsor / Operator

London, UK

Operator with $8M in blue-chip equities preparing to fund a new venture without diluting existing positions.

$2.5M
Credit Line
70%
LTV
SOFR + 2.0%
Rate

Challenge

Required $2.5M in growth capital for a new business while preserving long-term holdings and avoiding equity dilution.

Solution

Originated a flexible, interest-only credit facility with a capital partner at 70% LTV, secured against dividend-paying equities.

Outcome

Drew funds on-demand across three tranches. Maintained dividend income and upside on the underlying securities.

Family Office

Client 03

Family Office

Dubai, UAE

Multi-generational family office managing $40M across global equities, bonds, and ETFs.

$10M
Facility Size
60%
Blended LTV
Multi-Asset
Collateral

Challenge

Sought $10M in liquidity to rebalance into private credit while keeping the core public portfolio intact.

Solution

Originated a blended-collateral facility with a capital partner across equities and investment-grade bonds at an aggregate 60% LTV.

Outcome

Seamless cross-asset pledge enabled the reallocation. Proactive monitoring prevented any forced liquidation.

Case studies are illustrative and based on composite engagements. Individual results vary. Figures shown are for informational purposes and do not constitute investment advice or a guarantee of future results.

Glossary

Key Terms in Structured Finance

Clear definitions of the structures, collateral concepts, credit mechanics, and regulatory terms that shape the transactions we originate. Search or filter to find what you need.

Definitions are for educational purposes only and are not investment, legal, or tax advice. Specific structures vary by jurisdiction and counterparty.

Risk & Governance

How We Safeguard Assets

Structured financing is, above all, a discipline of collateral. Every facility we originate is built on a rigorous, institutional-grade framework designed to protect client assets through the full lifecycle of the transaction — from initial diligence to close-out.

100%

Client collateral segregated from proprietary assets

8

Risk disciplines applied to every facility we originate

Multi-jurisdiction

Security perfected across every relevant market

Institutional-Grade Due Diligence

Every counterparty and facility is vetted through a multi-stage diligence process covering financial standing, collateral quality, ownership structure, and source of funds — before any commitment is made.

Conservative LTV & Margin Policy

Facility sizing applies disciplined loan-to-value ratios and asset-specific haircuts that account for volatility, liquidity, and concentration, leaving a substantial buffer against collateral value declines.

Continuous Collateral Monitoring

Marked-to-market positions are monitored daily. Maintenance margins and trigger thresholds are pre-agreed in documentation so that corrective actions — additional collateral or partial repayment — are automatic and unambiguous.

Segregated & Ring-Fenced Assets

Client collateral is held separately from proprietary assets, with clear title and account segregation, so pledged securities are identifiable and protected in every market we operate in.

Cross-Border Security Perfection

Where collateral sits across jurisdictions, security is perfected simultaneously in each relevant market through vetted local counsel and custodians — closing gaps that could otherwise leave assets exposed.

Neutral, Non-Custodial Role

We are an origination firm, not a custodian or investment advisor. Capital providers and custodians remain independent, preserving neutral alignment and removing conflicts of interest from the structure.

Defined Default & Close-Out

Documentation — built on recognised industry standards such as GMRA — sets out the events that constitute default and the close-out mechanics, giving all parties legal certainty and predictability.

Standardised Documentation

We work from established master agreements and recognised industry frameworks, reducing ambiguity, accelerating execution, and ensuring every facility meets institutional legal and regulatory expectations.

This overview is for educational purposes only and does not constitute investment, legal, or tax advice. Specific risk frameworks and documentation vary by jurisdiction, counterparty, and facility type.

Finance & Business Education

Knowledge That Minimizes Risk

The most effective risk mitigation is an informed sponsor. Our education hub distills the mechanics of private credit and structured financing — including how thoughtful pricing structures, appropriate loan-to-value ratios, and flexible terms work together to reduce downside exposure.

Lower LTV

Conservative loan-to-value ratios create a natural buffer against collateral volatility.

Flexible Terms

Interest-only and customized repayment schedules align debt service with your liquidity.

Transparent Pricing

Clear, all-in cost structures eliminate hidden fees that erode returns over time.

Foundations

Securities-Based Lending Fundamentals

A primer on how portfolio-backed credit works, key terminology, and how it differs from traditional margin lending.

8 min readRead
Intermediate

Pricing Structures & Risk Mitigation

How loan-to-value ratios, interest rates, and flexible terms work together — and how smarter pricing structures minimize downside risk for borrowers.

12 min readRead
Advanced

Managing Collateral in Volatile Markets

Strategies for maintaining appropriate buffers, understanding margin calls, and protecting long-term positions during market drawdowns.

10 min readRead
Foundations

Borrowing Power & Liquidity Planning

A practical framework for sizing a credit facility against your portfolio and aligning repayment with your liquidity timeline.

7 min readRead
Intermediate

Tax Efficiency of Credit vs. Liquidation

How borrowing against appreciated assets can preserve unrealized gains and defer capital gains exposure compared to selling.

11 min readRead
Advanced

Structuring Cross-Jurisdictional Facilities

Considerations for multi-asset, multi-jurisdiction portfolios and how bespoke credit structures accommodate complex holdings.

15 min readRead
Market Insights Newsletter

Intelligence from the Commanding Desk

Receive quarterly analysis on structured financing, liquidity strategy, and private credit markets — written for institutional and accredited investors who value discretion and depth.

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Origination

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COMMANDING
Capital

An investment origination firm that sources private credit and structured financing opportunities — connecting qualified opportunities with long-term capital partners.

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© 2026 Commanding Capital Group Ltd. All rights reserved.

Important Disclosures: Commanding Capital Group Ltd is an investment origination firm. Commanding Capital is not an investment fund, broker-dealer, investment adviser, bank, or depository institution, and is not registered as such with any regulatory authority. We do not underwrite, manage, or hold client assets, and we do not provide investment management services. Nothing on this website constitutes investment advice, a solicitation, or an offer to buy or sell any security or financial instrument.

Our Role: Commanding Capital sources private credit and structured financing opportunities through a network of attorneys, advisors, brokers, and corporate executives, and connects qualified opportunities with long-term capital partners. Any transaction is undertaken directly between the opportunity sponsor and the capital partner, on terms negotiated between them. Commanding Capital acts solely as an originator and is not a party to any financing unless expressly agreed.

Eligibility: The opportunities and relationships described on this website are intended for institutional investors, accredited investors, and professional intermediaries as defined under applicable securities laws. Parties should seek independent legal, tax, and financial advice before entering into any transaction.