Fieldstone

What Fieldstone does

Fieldstone is an independent, privately-held investment bank founded in 1990 and headquartered in London, specializing in financial advisory for the energy and infrastructure sectors across emerging markets, with a primary franchise in Africa. The firm operates through six offices spanning Africa (Johannesburg, Dakar), Europe (London, Berlin), South America (Lima), and North America (Washington D.C.), and claims $50B+ in completed transactions globally and $14B+ in Africa over a 30+ year track record. Its service offering covers project finance, capital raising, M&A, ECA/DFI advisory, strategic advisory, and restructuring, delivered through a senior-led, relationship-driven model targeting governments, development finance institutions, and large corporates. Beyond pure advisory, Fieldstone operates a wholly-owned development subsidiary, FAIR (Fieldstone Africa Investment Resources), which takes principal equity positions in sub-50MW renewable energy projects in Sub-Saharan Africa. The firm has expanded its sector coverage to include mining and industrials, healthcare, hospitality, and agriculture, and has re-entered Asia via a partnership with India's Finnacle Capital Advisors.

The business is structured around long-cycle, complex mandates rather than high-volume transactional work, and the firm's leadership team includes former ambassadors, former heads of African IPP and PPP programmes, a former COO of the African Development Bank, and senior bankers from Dresdner Kleinwort Wasserstein, Citibank, Amoco, and El Paso Energy. Fieldstone monetizes through advisory and transaction fees on mandates (financial advisory) plus principal returns from FAIR (principal investments), with no publicly disclosed pricing. The firm has no proprietary technology platform or productized offering; its competitive positioning is grounded in talent, DFI/ECA relationships, procedural expertise in African PPP/IPP frameworks, and multi-continent local presence. Key institutional relationships include FONSIS (Senegal sovereign wealth fund), UNECA's SDG7 programme, the African Development Bank, DBSA, and the US Export-Import Bank, alongside named corporate clients such as Svevind, Azura, EWE, Total, TATA, and Google.

Name

Fieldstone

Legal name

Fieldstone Intellectual Property Ltd.

Website

https://fieldstone.group

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

11–50 employees

Short description

Fieldstone is an independent investment bank providing financial advisory and principal investment services focused on energy and infrastructure transactions across emerging markets, with a primary franchise in Africa and offices across five continents.

Ownership category

akta.pro rank

Product category

Investment Banking and Financial Advisory

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239)

SIC

Investment Advice (6282)

akta.pro primary industry

Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit) (BPAHAOAD)

akta.pro secondary industries

Real Assets — Infrastructure (Core/Core+, Brownfield/Greenfield) (FSAHAIAC), Energy & Power Infrastructure Funds (Generation, Transmission, Storage) (FSANAEAB), Private Sector & Blended Finance Arms (IFC-type) (BPADACAJ), Infrastructure — Core (Brownfield) (FSAAAKAE), Real Estate Funds — Core-Plus (FSANAEAG)

Keywords

• Investment banking services
• Energy infrastructure advisory
• Project finance advisory
• Mergers acquisitions advisory
• Capital raising services

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Financial Advisory: Advisory fees for transaction structuring, M&A advisory, capital raise advisory, and strategic consulting services. Fieldstone provides tailored advice on complex transactions across energy and infrastructure sectors.
2. Principal Investments: Direct investment through FAIR (Fieldstone Africa Investment Resources) development subsidiary. FAIR invests in renewable energy projects that have potential but lack certain elements for success, providing capital alongside advisory services.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Fieldstone is an independent investment bank providing financial advisory services across energy, infrastructure, mining and industrials, healthcare, hospitality, and agriculture sectors. Core offerings include project financing, capital raises, mergers and acquisitions advisory, ECA/DFI support, strategic advisory, and restructuring, with a particular focus on emerging markets and Africa. The firm also operates principal investments through its FAIR subsidiary, which develops sub-50MW renewable energy projects in Sub-Saharan Africa.

Product overview

Fieldstone is an independent investment bank providing advisory and principal investment services rather than a unified software product. The firm operates through two primary service lines: Financial Advisory (covering project financing, capital raises, M&A, ECA/DFI support, strategic advisory, and restructuring) and Principal Investments via its FAIR (Fieldstone Africa Investment Resources) subsidiary. Services are organized by sector expertise including Energy, Infrastructure, Mining and Industrials, Healthcare, Hospitality, and Agriculture. The firm does not offer a technology platform or software product but rather professional advisory services focused on energy and infrastructure transactions in emerging markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Financial Advisory

Quantifiable outcome

• $50B+ in completed transactions globally
• +3 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and major.

• Finnacle Capital AdvisorscoreStrategic or Co-development Partner · 1 October 2020Fieldstone partnered with Finnacle Capital Advisors in India for energy and corporate advisory work. The partnership enables Fieldstone to re-establish permanent presence in India and Asia, leveraging Finnacle's established network with World Bank, Asian Development Bank, and IFC.
• FONSIS (Senegal Sovereign Wealth Fund)coreStrategic or Co-development Partner · 1 April 2020Fieldstone was selected as financial advisor and co-manager for the Renewable Energy and Energy Efficiency Fund (REEF), targeting €109 million first raise to spur over 280 MW of renewable investment in West African Economic and Monetary Union countries.
• United Nations Economic Commission for Africa (UNECA)coreStrategic or Co-development Partner · 1 August 2019Fieldstone supports the UNECA Sustainable Development Goal 7 Initiative, acting as SDG7 Programme advisor and transaction originating bank for the Pan-African green energy program. Fieldstone originated a three Billion Rand issuance by DBSA as part of the UNECA SDG7 for Africa Programme.
• FAIR (Fieldstone Africa Investment Resources)coreStrategic or Co-development PartnerFAIR is Fieldstone's development subsidiary incorporated in 2016 to pursue renewable transactions needing assistance beyond financial advisory. FAIR has closed three projects in Uganda and Namibia, with multiple projects in advanced development. FAIR seeks aligned investors for expansion.
• Honeywell Group (Nigeria)majorStrategic or Co-development PartnerFieldstone Chairman Andrew Smith-Maxwell serves on the Board of Nigeria's Honeywell Group, facilitating advisory work in the Nigerian market including commercial and industrial energy generation and renewables projects.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Rothschild & Co: Global independent M&A and restructuring advisory with deep emerging-markets energy and infrastructure practices. Competes for the same large African project-finance and restructuring mandates but with vastly greater scale and balance-sheet capacity.
• Lazard: Global independent financial advisory firm with a long-established emerging-markets and energy/infrastructure franchise. Overlaps with Fieldstone on African M&A, capital raising, and sovereign advisory work but at much larger deal sizes and headcount.
• Actis: Global emerging-markets private equity firm focused on energy and infrastructure in Africa, Latin America, and Asia. Adjacent to Fieldstone as both a co-investor and a competitor for the same emerging-market infrastructure mandates and capital pools.
• Absa CIB: Pan-African corporate and investment bank with established energy, infrastructure, and project-finance coverage. Competes with Fieldstone for mid- and large-cap African advisory mandates, particularly in South Africa and the broader SADC region.
• Standard Bank: Pan-African corporate and investment banking leader with a dominant African energy and infrastructure finance franchise. Directly competes with Fieldstone for African project finance, M&A, and DFI-linked capital raising mandates across the same client base.
• Standard Chartered Bank: Global bank with a leading Africa and Middle East franchise and active project-finance and ECA-supported infrastructure origination. Competes with Fieldstone for cross-border African energy and infrastructure mandates, particularly those involving DFIs and ECAs.

Direct peers

• Cygnum Capital: Africa-focused investment advisory and principal investing firm covering energy, infrastructure, and natural resources. Closely comparable to Fieldstone in scope, regional focus, and the blend of advisory and principal investing across African emerging markets.
• Rand Merchant Bank: South African-based investment bank with a strong African energy, infrastructure, and structured-finance franchise. Directly comparable to Fieldstone's Johannesburg-led Africa advisory platform; former employer of Director Xolani Sibiya.
• CrossBoundary: Independent emerging-markets financial advisory and investment platform with offices across Africa and other frontier markets. Highly comparable to Fieldstone's blend of M&A, capital raising, and principal investment in African energy and infrastructure.

Others

• British International Investment (formerly CDC Group): UK development finance institution actively investing in African and South Asian energy and infrastructure. Not a direct competitor but a frequent counterparty to Fieldstone advisory mandates and a key source of capital for the projects Fieldstone structures.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fieldstonegroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fieldstone