Policy moves first.
Capital follows.
We work in between.
Reframe Risk originates capital transactions from inside governance — identifying where policy has shifted risk or opportunity ahead of recognition, and bringing in the capital and partners to execute.
The 2026 Budget widened the gap between policy and capital across multiple sectors simultaneously — to a degree not seen in over twenty years.
We originate capital transactions
from inside governance.
The transactions we originate do not exist before the governance process that creates them. The advisory work and analytical method are how origination is achieved — not separate services.
Risk
Where policy has shifted risk or opportunity ahead of recognition.
Reframe
At board level, change how the position is defined and governed.
Originate
Capital movement through private partnerships, strategic partners, structured risk transfer, or sovereign-aligned finance.
Where has policy moved beyond a company's recognised balance-sheet position?
Policy changes risk immediately.
Organisations adjust slowly.
Governance is anchored to a version of risk that no longer applies. Capital is allocated to where risk and opportunity used to sit. The lag cuts both ways — and the window for inside-governance origination is currently as wide as it has been in living memory.
Anchored to old risk
Boards make decisions against a version of risk that no longer applies. Recognition lags structural change.
Allocated to where it was
Capital is positioned for the previous regime. Decisions are made after the impact is felt, not before.
Reprice in lag
Information is diffuse, the analytical capability rare. The gap doesn't close — it relocates as policy keeps moving.
A lagging operational issue
becomes an early signal.
Shift the unit of risk from hospital capacity to the patient journey. The reframe travels across the system — from providers to capital markets.
Access block and lost bed capacity treated as operational constraints — measured after the fact, managed within existing system limits.
Shift the unit of risk from hospital capacity to the patient journey. Make the pathway visible in real time. Pressure becomes a forward-looking signal.
The same insight is now applied with insurers and reinsurers — translating patient-level risk into claims trajectories and capital allocation decisions.
A lagging operational issue becomes an early signal — and an originated transaction that did not exist before the governance work that created it.
We originate capital transactions from inside governance. The transactions we originate do not exist before the governance process that creates them.
Four fee components.
Named on day one.
The retainer pays for the origination capability that makes the transaction possible. The activation share is named at engagement start, not deferred. Aggressive on retainer, generous on activation.
Sized to the activation upside, not to advisory day rates. Pays for the origination capability that makes the transaction possible.
On discrete capital transactions.
On revolving vehicles and managed SPVs.
In originated spinouts where we created the entity.
Policy change is constant.
The question is who is positioned to originate what follows.
Initial briefings are tied to a specific board or executive decision. Tell us what's on the agenda and we'll come back with a short proposal.