Capital Markets
23.5 Strategies helps companies and investors translate operating reality into capital markets judgment. The firm supports investment thesis development, capital allocation, transaction readiness, strategic alternatives, value creation planning, and investor-facing narrative.
Perspective
How we think about capital markets.
Capital markets shape how companies are valued, funded, judged, and positioned. But market perception and operating reality do not always align. Businesses may have real value that is poorly understood, or apparent value that lacks operating durability.
23.5 Strategies works at the intersection of business performance, investment judgment, capital allocation, and strategic communication. The firm helps clients evaluate business quality, growth potential, margin structure, capital intensity, competitive position, management priorities, and value creation opportunities.
This work is especially relevant in sectors where value is tied to assets, operations, contracts, customers, commodity exposure, infrastructure, policy, and execution risk. In energy, fuels, chemicals, manufacturing, logistics, infrastructure, and industrial markets, the numbers only tell part of the story. The operating model behind the numbers matters.
23.5 supports investors assessing opportunities, founders preparing for growth capital or sale processes, private companies developing stronger value narratives, and leadership teams preparing for board, lender, or investor engagement.
The objective is not financial theater. The objective is clarity: what is the business worth, why does it deserve capital, where can value be created, and what must leadership do next?
Relevant Advisory Work
Representative work.
- Investment thesis development
- Capital allocation review
- Strategic alternatives assessment
- Transaction readiness
- Business quality assessment
- Board and investor materials
- Value creation planning
- Public company and private company analysis
- Investor narrative and strategic positioning
- M&A and acquisition target evaluation
Relevant Capabilities
M&A, Capital & Transaction Advisory
Operator-led judgment on the decisions that drive transaction outcomes — before, during, and after the deal.
Executive Advisory & Strategic Communications
Senior counsel for CEOs, founders, and leadership teams at the intersection of decisions, stakeholders, and narrative — when reputational and strategic risk converge.
Growth Strategy & Value Creation
Identify where value compounds, where it leaks, and where leadership attention will move the curve.
Engagements
Engage the firm on capital markets.
The firm engages selectively. If your situation warrants senior counsel, we will respond personally.