Finstandard Corp. — Independent by design

An independent partner for deals, capital and growth.

We help owners, investors and institutions buy, sell, finance and value businesses, from Central Asia to markets worldwide.

15+ years200+ projectsup to US$2.5bn

The Firm

We offer only our judgement — no products, no conflicting interests. That is Finstandard Corp.

  • Independence

    We hold no products, no balance sheet and no conflicting mandates. Our counsel answers to one interest: yours.

  • Discretion

    We never use our clients' affairs to promote ourselves. Confidentiality is a condition of every engagement, not a clause.

  • Seniority

    Every mandate is led by senior partners, from the first meeting to completion. Experience is not delegated.

  • Continuity

    We approach each mandate as the beginning of a long relationship, not the end of a transaction.

Who we advise

Four kinds of client. One standard of partnership.

Our clients differ in size and purpose. What they share is a decision that matters, and the need for counsel they can trust.

Founders and family owners

Selling, partnering, raising capital or preparing a business built over decades for the next generation.

Corporates and state companies

Acquisitions, joint ventures, divestments and the capital to pursue strategic growth.

Investors and funds

Origination, due diligence, valuation and independent oversight of investments in the region.

Governments and development institutions

Bankable projects, public-private partnership programmes and rigorous investment appraisal.

Global reach

From Astana to the world’s capital markets.

01Entry into Central Asia

Your gateway to Central Asia and the Caspian.

The region offers scale and growth, and rewards local insight. For international companies, we identify the opportunity and the right partners, structure the entry and stay with you through to completion.

  • Kazakhstan
  • Uzbekistan
  • Kyrgyzstan
  • Tajikistan
  • Turkmenistan
  • Azerbaijan
  • Armenia
Discuss Central Asia entry

Capabilities

The depth behind every mandate.

01Modelling & valuation

Models built to the FAST standard. Values that hold.

We build financial models to the FAST standard and independently audit models prepared by others, so that lenders and investors can rely on every number. On that foundation we value equity and businesses with methods a board, a buyer or a court will accept.

  • FAST standard
  • Model audit
  • DCF
  • Comparables
  • Equity valuation
Discuss a valuation

Structures

Beyond single transactions.

01Private equity funds

Funds built for international capital.

We structure private equity funds, from strategy and terms to the fund vehicle and investor documents, in the AIFC and European jurisdictions.

  • AIFC
  • European jurisdictions
  • LPA
  • Capital contribution
  • Fund administration
Discuss a fund

Advisory

Six disciplines.
One purpose: lasting value.

Every engagement begins with the outcome our client seeks. Select a discipline to see when clients call us, and what we deliver.

Mergers & AcquisitionsThe right transaction, at the right price, on terms that endure.

When clients call us

When considering a sale, an acquisition, a new partner or a change in ownership.

What we do

We advise on acquisitions, disposals, joint ventures and recapitalisations: from strategic rationale and valuation to structure, negotiation and completion.

Typical mandates

Sell-side advisory

We prepare the business for sale, identify and approach the right buyers, run a competitive process and negotiate through to completion.

Buy-side advisory

We screen and approach targets, assess value and risk, and structure and negotiate the acquisition on your behalf.

Joint ventures and strategic partnerships

We find the right partner, define each party’s contribution and governance, and negotiate terms that protect your interests.

Shareholder exits and buy-outs

We value the stake, design the exit or buy-out and its financing, and manage negotiations between shareholders.

Deal structuring and negotiation

We design the structure, consideration and protections, from earn-outs to warranties, and lead the negotiation.

Discuss a transaction
Debt Advisory & RestructuringCapital on terms that serve the business, not the lender.

When clients call us

When raising or refinancing debt, or when existing obligations need to be restructured.

What we do

We help companies and sponsors raise, refinance and restructure debt: building the credit case, approaching the right lenders and negotiating terms that leave the business room to grow.

Typical mandates

Debt raising: loans, leasing and bonds

We build the credit case, select the right instrument and lenders, and run the process through to signing and drawdown.

Refinancing and capital structure

We review existing debt and equity, model the alternatives and refinance on better terms, tenor or currency.

Debt restructuring

When obligations become unsustainable, we develop a restructuring plan and negotiate with lenders to preserve the business.

Lender negotiations

We represent you on term sheets, covenants, security and waivers, so the terms leave room to operate.

Credit and solvency assessment

An independent view of debt capacity, liquidity and covenant headroom, for owners, boards and counterparties.

Discuss your financing
ValuationA clear, defensible view of value, and of what drives it.

When clients call us

Before a transaction, a change among shareholders, a financing or a dispute.

What we do

Independent valuations for transactions, financing, governance and disputes, built with the rigour of private equity and the clarity a board requires.

Typical mandates

Business and equity valuation

Independent valuation of companies and stakes, using income, market and asset approaches reconciled into one defensible conclusion.

Asset and intangible valuation

Valuation of specific assets, licences, brands and other intangibles for transactions, financing and reporting.

Independent and fairness opinions

An independent opinion for boards and shareholders on whether the price of a transaction is fair.

Valuation for disputes

Clear, well-documented valuations for shareholder disagreements, arbitration and litigation.

Value creation diagnostics

We identify what drives value in the business and where it is lost, and prioritise the actions that raise it.

Discuss a valuation
Project Finance & PPPTurning ambitious projects into bankable ones.

When clients call us

When moving a project from concept to funding, or restructuring one that has stalled.

What we do

From concept to financial close: feasibility, financial modelling, risk allocation and the structures that development banks, lenders and investors require.

Typical mandates

Feasibility studies and investment memoranda

We test the commercial and financial viability of the project and present it in the form lenders and investors expect.

Financial modelling

Robust, auditable project and corporate models that support decisions, negotiations and lender due diligence.

Bankability and risk allocation

We structure contracts, guarantees and offtake so that each risk sits with the party best able to bear it.

Lender and DFI financing

We prepare and lead financing with commercial banks, export credit agencies and development finance institutions.

PPP and concessions

We advise public and private partners on structuring, tendering and negotiating PPP and concession agreements.

Discuss a project
Strategy & GovernanceClarity of direction, and the governance to sustain it.

When clients call us

When setting direction, preparing for investors, or strengthening the board.

What we do

We help owners and boards set strategy, strengthen governance and put in place the policies, processes and agreements that protect long-term value.

Typical mandates

Corporate strategy

We help owners and boards decide where to compete, how to grow and which options to pursue.

Capital allocation and planning

We link strategy to budgets and investment decisions, so capital goes where it creates the most value.

Board and shareholder governance

We design board structures, committees and decision rights that investors and lenders recognise.

Policies and internal controls

We put in place the policies, procedures and controls that protect the business and support its growth.

Shareholder agreements

We define the terms between shareholders, from control and dividends to exits and deadlock, before they are tested.

Discuss your strategy
Investment OversightDisciplined stewardship of capital, from entry to exit.

When clients call us

When direct investments need independent, disciplined monitoring and a clear view to exit.

What we do

For families, holding companies and institutions: independent oversight of direct investments and assets, with rigorous monitoring and clear reporting.

Typical mandates

Portfolio monitoring and reporting

Regular, independent monitoring of performance, covenants and risks, with clear reporting to owners.

Direct investment oversight

We represent the investor’s interests in portfolio companies, including at board level where required.

Asset management

Active management of investments and assets to protect value and improve returns.

Exit planning

We prepare investments for exit early, identifying the route, the timing and the buyers most likely to pay.

Discuss your portfolio

Experience

Fifteen years on every side of the deal table.

Our partners have worked as lenders, investors, bankers and corporate acquirers. We know what each party needs before it says yes.

15+years in M&A, project finance and valuation
200+projects across all sectors
4sides of the table: lender, investor, banker, acquirer
25+sectors, from mining and energy to infrastructure and industry
  1. 01Lender

    Structured and financed large-scale industrial and infrastructure projects at a national development bank.

  2. 02Investor

    Private equity and fund investments, valuation and portfolio oversight for a sovereign investment platform.

  3. 03Acquirer

    Cross-border M&A and corporate development for a global leader in natural resources, across Africa and Asia.

  4. 04Banker

    Credit underwriting and corporate finance at leading commercial banks.

Sector experienceMetals and mining · Energy and renewables · Chemicals · Infrastructure and PPP · Agri and food · Oilfield services · Automotive · Hospitality

Partner profiles are available on request. Request profiles

Track record

Transaction experience, from US$5 million to US$2.5 billion.

Thirty of the largest and most significant types of transactions and mandates our team has structured and advised on, selected from more than 200 projects across all sectors.

Transaction type
$5m$10m$50m$100m$500m$1bn$2.5bn
  1. US$500m–2.5bnGas processing plantEnergy & resources · Project finance
    US$500m–2.5bn
  2. US$300mAirport constructionInfrastructure · Project finance
    US$300m
  3. US$100m–500mChemical industryChemistry & petrochemistry · Capital structuring
    US$100m–500m
  4. US$50m–500mRoad constructionInfrastructure · Project finance / PPP
    US$50m–500m
  5. US$50m–300mMetallurgical plantMetals & industry · Project finance / Valuation
    US$50m–300m
  6. US$50m–200mFerroalloy plantMetals & industry · Project finance / Debt advisory
    US$50m–200m
  7. US$50m–200mAutomotive manufacturingMetals & industry · M&A / Capital structuring
    US$50m–200m
  8. US$30m–200mRenewable energy: solar, wind, hydroEnergy & resources · Project finance
    US$30m–200m
  9. US$20m–100mOilfield servicesEnergy & resources · M&A / Debt advisory
    US$20m–100m
  10. US$20m–100mWholesale distribution centreInfrastructure · Capital structuring
    US$20m–100m
  11. US$10m–100mHotel, school and hospital projectsInfrastructure · Project finance
    US$10m–100m
  12. US$20m–80mElectrical equipment productionMetals & industry · Capital structuring
    US$20m–80m
  13. US$20m–80mConsumer goods productionConsumer · Project finance
    US$20m–80m
  14. US$10m–50mMeat processingAgri & food · M&A / Debt advisory
    US$10m–50m
  15. US$10m–50mGrain cultivation and processingAgri & food · Debt advisory / Modelling
    US$10m–50m
  16. US$10m–50mLight industry goodsConsumer · Debt advisory
    US$10m–50m
  17. US$5m–30mOilseed cultivationAgri & food · Debt advisory
    US$5m–30m
  18. US$5m–30mFishery and aquacultureAgri & food · Project finance
    US$5m–30m
  19. US$5m–30mFood productsAgri & food · M&A / Valuation
    US$5m–30m

Each row is a type of transaction our team has structured and advised on, in prior institutional roles and independent mandates. Bars show the typical deal size range, on a logarithmic scale. Client names are withheld in confidence.

Industries

Where we are ready to work, and to scale.

The sectors with the strongest demand for capital and advice across Central Asia and the Caspian, and where our experience adds the most value. Each is a market we are ready to grow with our clients.

Energy & Resources

  • Oil & Gas
  • Electric Power & Renewables
  • Metals & Mining
  • Metallurgy & Ferroalloys
  • Chemicals & Petrochemicals

Industrials

  • Industrial Goods & Machinery
  • Automotive & Assembly
  • Construction Materials
  • Light Industry & Textiles

Infrastructure & Real Estate

  • Transport & Logistics
  • Airports & Seaports
  • Roads & Social Infrastructure
  • Real Estate
  • Hospitality & Tourism

Financial Services

  • Banking
  • Fintech & Payments
  • Insurance
  • Asset Management & Private Capital
  • Leasing & Microfinance

Consumer & Agriculture

  • Agriculture & Agri-processing
  • Food & Beverages
  • Retail & Consumer Goods

Social & Public

  • Healthcare & Pharmaceuticals
  • Education
  • Technology, Media & Telecoms
  • Public Sector & Development

How we work

From first conversation to completion, and beyond.

A small number of mandates, each led by senior partners, so that every client receives our full attention.

  1. Understand

    We begin with the business, the owners' objectives and the market, before proposing anything.

  2. Design

    We define the path: the transaction, the capital and the partners that best serve those objectives.

  3. Execute

    We lead the process to completion, and remain a trusted adviser long after the transaction closes.

Office

Astana

Republic of Kazakhstan, Astana, 31 Mangilik El Ave

Hours
Monday to Friday, 09:00 to 18:00
Local time
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Email
••••@••••••••.••
Careers
••••@••••••••.••

Reach

A regional base. A global mandate.

  • Central Asia
  • The Caspian region
  • The Gulf and Middle East
  • Southeast Asia
  • Europe

Contact

Every significant decision begins with a conversation.

Tell us as much or as little as you wish. A senior partner will respond personally, in confidence.

Private enquiry

Fields marked with an asterisk are required.