This month’s insights reflect a world of diverging trajectories. In Germany, insolvencies and job losses signal a stalled economy even as families turn to private debt and legacy groups enter defense. Australia faces weakened confidence with steep drops in migration and tourism shaking a once resilient economy. The UK contends with political strain and capital flight, though family office syndicates remain active. In Saudi Arabia and the wider GCC, capital inflows and cross-border dealmaking continue to accelerate. The Netherlands is gaining strength as a hub for clean tech and circular economy ventures, while across Africa, investors highlight fintech, mining, and real estate opportunities amid structural challenges. In the U.S., investors are navigating a tighter funding environment with private credit filling gaps, distressed tech on the rise, and new attention turning toward cross-border AI and digital asset plays.
What’s happening in Germany
Anneliese Sound, Managing Director at Future Potential Management, shared that the German economy continues to stagnate, with rising insolvencies and job losses. While traditional growth remains sluggish, shifts are underway: the Porsche family has launched a defense fund, and Bosch has entered the defense sector after decades of resistance. She noted a surge in private debt funds created by families as an alternative to bank financing, though increased scrutiny from BaFin could soon impose tighter restrictions.
What’s happening in Australia
Craig Astill, Managing Director & CEO at Caason Group, described unprecedented headwinds after years of resilience. Migration and tourism are down by 36%, sharply impacting business confidence. Rising unemployment and a decline in full-time jobs point toward interest rate cuts, though these would be driven by weakness rather than strength. He added that overreliance on the mining sector, coupled with insufficient innovation and R&D support, has left broader parts of the economy exposed.
What’s happening in the United Kingdom
Mark Lewis, Director at LIS Direct Ventures, noted political and economic pressures following Labour’s election win last year. The government has struggled to implement reforms, while rising populism has fuelled the largest right-wing march in London in 30 years. Economically, growth remains low and productivity weak, with new tax rules prompting some high net worth families to relocate to Dubai and other more tax-friendly territories. Still, deal activity continues, particularly through family office syndicates sharing opportunities.
What’s happening in Saudi Arabia and neighboring countries
Dr. Farah Spencer, Managing Partner at GADG, observed a strong momentum in Riyadh, with an influx of Western professionals arriving every two to three weeks. Capital flow within Saudi remains robust, especially in infrastructure, tech startups and M&A activity.
Anis Saif, Senior Director - Principal Investments at Gulf Investment Corporation, who has long worked with sovereign entities and regional family offices in the Middle-East region, confirmed that investment in education and healthcare sectors is seeing significant buyout interest from regional and global investors. He also noted that alumni and business networks in Dubai are expanding rapidly, reflecting sustained interest from global professionals to relocate to the region.
What’s happening in Africa
Japheth Munywoki, CEO at Goodson Capital Partners, described active deal flow across West, East, Southern, and North Africa, particularly in fintech, real estate, and student housing. He noted that many African startups incorporate in Dubai or Delaware to attract capital, while corporates such as Safaricom remain strong defensive plays.
Gavin McInnes, Managing Director at CAWL DEVCO and Westerhaven DEVCO, based in South Africa, added that continued high-net-worth migration into the Western Cape is not just a trend—it is a structural shift that is fundamentally reshaping demand for secure, lifestyle-driven estates. Gated communities are seeing unprecedented absorption rates, and the most acute shortages are in mixed-use and retirement-focused housing, where supply is years behind demand.
What’s happening in Europe
Jean Lehmann, CEO at Cyber Capital Partners, expressed optimism, citing that the Federal Reserve’s recent rate cut — and the prospect of further easing — could mark a turning point for asset valuations, including digital assets. At the same time, he cautioned that equity markets are already trading at historically elevated levels, underscoring the need for vigilance as policy and economic data continue to evolve.
What’s happening in the U.S.
James Feldkamp, Managing Partner at Alary Capital, shared that many tech companies with recurring revenue are struggling to pivot to profitability. Venture funding is drying up as exits remain limited, with private credit stepping in aggressively, sometimes lending at four times annual recurring revenue. He cautioned that covenant breaches and distressed opportunities are rising, especially among more mature but unprofitable tech businesses.
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