Eaglestone

What Eaglestone does

Eaglestone is a privately-held financial services platform founded in December 2011 by Pedro Neto and Nuno Gil, headquartered in Amsterdam with a network of offices across Lisbon, London, Luanda, Cape Town, Johannesburg, and Maputo. The firm operates three integrated business lines: (1) Advisory Services covering structured project finance, corporate finance, M&A, strategic advisory, financial restructuring, public-private partnerships (PPPs), and government mandates; (2) Asset Management through Eaglestone Capital SGOIC (Angola, CMC-regulated since 2018) and Eaglestone Capital Partners (Portugal, CMVM-regulated since 2023), offering sectoral funds in equities, bonds, real estate, infrastructure, and gender-lensed venture capital; and (3) Securities Distribution via Eaglestone SDVM (Angola, CMC-regulated since 2023), providing brokerage, custody, and primary market services on BODIVA in partnership with Banco BIR.

The firm's core proposition is a "boots on the ground" advisory model targeting governments, state-owned enterprises, and private developers of infrastructure and energy projects in Sub-Saharan Africa, with execution teams locally embedded in Angola, Mozambique, and South Africa, combined with European hubs in Amsterdam, Lisbon, and London for international capital markets access. Eaglestone generates revenue through transaction-based advisory fees, recurring management and performance fees on its regulated fund vehicles, and securities transaction fees. Notable track record includes cumulative advisory/financing mandates exceeding EUR 75 billion attributed to team members, USD 7 billion raised for African energy projects, and headline transactions such as the USD 753 million Lobito Corridor Railway Project (co-financial adviser alongside Africa Finance Corporation, 2026 financial close) and the EUR 2.7 billion LusoLav High-Speed Rail Lisbon-Oporto PPP, which won Europe PPP Deal of the Year at the 2026 IJGlobal Awards.

Eaglestone is structured around multiple wholly-regulated subsidiaries across the Netherlands, Portugal, the UK, Angola, and Mozambique, with no disclosed external institutional investors, indicating founder/management ownership. An in-house Business Intelligence & Research unit has produced over 55 reports on Sub-Saharan African macro and sectoral topics since 2014, functioning as a marketing and origination engine. Revenue figures, headcount compensation, and valuation are not publicly disclosed.

Name

Eaglestone

Legal name

Eaglestone NV

Website

https://eaglestone.eu

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Eaglestone is a private financial services platform specializing in infrastructure and energy project finance advisory across Sub-Saharan Africa, with complementary asset management and securities distribution subsidiaries regulated in Angola, Portugal, and the UK.

Ownership category

akta.pro rank

Headquarters

HQ city

Lisbon

HQ country

Portugal

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Marketing or Sales, Technology or R&D

Revenue model

1. Financial Advisory Fees: Eaglestone earns advisory fees for providing independent financial advice on structured project finance, corporate finance, mergers and acquisitions, strategic advisory, financial restructuring, public-private partnerships (PPPs), and government services. Revenue is generated on a transaction basis as mandates are completed.
2. Asset Management Fees: Through its regulated subsidiaries (Eaglestone Capital SGOIC and Eaglestone Capital Partners), the firm earns management fees and performance fees from managing investment funds including equity funds, bond funds, real estate funds, and sectoral funds targeting agriculture, infrastructure, industry, services, and natural resources in Angola and broader Sub-Saharan Africa.
3. Securities Distribution and Brokerage: Eaglestone SDVM earns fees from securities brokerage, custody, primary market operations, and distribution of collective investment schemes in the Angolan capital markets. The firm ranked 6th by trading value on BODIVA as of April 2024, indicating market-making and transaction-based revenue.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Eaglestone is a financial services platform operating across three interconnected business lines: (1) Advisory Services covering structured project finance, corporate finance, M&A, strategic advisory, financial restructuring, public-private partnerships, and government services; (2) Asset Management through Eaglestone Capital SGOIC in Angola and Eaglestone Capital Partners in Portugal, offering sectoral funds in real estate, bonds, equities, and infrastructure; and (3) Securities Distribution through Eaglestone SDVM providing primary market services, brokerage, custody, and research for Angolan capital markets. The platform is unified by a Sub-Saharan Africa focus with locally staffed offices providing language, cultural, and regulatory expertise.

Product overview

Eaglestone is a financial services platform with three interconnected business lines: Advisory Services (structured project finance, corporate finance, M&A, strategic advisory, financial restructuring, PPPs, and government services), Asset Management (through Eaglestone Capital SGOIC in Angola and Eaglestone Capital Partners in Portugal offering sectoral funds including real estate, bonds, equities, and infrastructure), and Securities Distribution (Eaglestone SDVM providing primary market services, brokerage, and research for Angolan capital markets). The platform is unified by its Sub-Saharan Africa focus and local execution teams, with complementary offerings where advisory transactions generate fund distribution opportunities and research supports market activity.

Differentiator

Problem solved

Functional benefit

Brands

• Moon Capital: Women Empowerment Fund - Closed-end venture capital fund for women-led businesses
• Infrapower I Europe
• Infrapower I Africa
• Eaglestone Obrigações I
• Eaglestone Acções I
• FundInvest
• Eaglestone Real Estate I
• BIR Towers

Products and services

• Advisory Services Value-added financial advisory service covering structured project finance, corporate finance, mergers and acquisitions, strategic advisory, financial restructuring, public-private partnerships (PPPs), and government services. Targeted at governments, state-owned enterprises, and private companies in energy, infrastructure, and financial services sectors across Sub-Saharan Africa.
• Eaglestone Capital SGOIC Asset Management Asset management company regulated by Angola's Capital Markets Commission (CMC), managing diversified sectoral investment funds including agribusiness, infrastructure, industry and services, and natural resources funds for institutional and individual investors seeking Angolan and Sub-Saharan African market exposure.
• Eaglestone Capital Partners (Private Equity / Venture Capital) Portuguese venture capital company regulated by the CMVM since February 2023, focused on structuring, establishing, and managing investment funds including the Infrapower I Europe and Infrapower I Africa infrastructure funds and the Moon Capital women empowerment fund.
• Eaglestone SDVM Securities Distribution Angolan securities distribution company regulated by the Capital Markets Commission (CMC) since December 2023, providing primary market debt and equity issuance, structured products, brokerage, custody, and research services for Angolan capital markets. Ranked 6th by trading value on BODIVA as of April 2024.
• Eaglestone Obrigações I Fund Open-ended special investment fund in securities, denominated in Kwanzas, unlimited duration, for investment in financial instruments traded in the Angolan market. For investors seeking Angolan fixed-income exposure.
• Eaglestone Acções I Fund

Quantifiable outcome

• Over EUR 75 billion in cumulative advisory and financing mandates completed by team members
• +3 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Mota-EngilcoreStrategic or Co-development PartnerMota-Engil, a major Portuguese construction and infrastructure group, formed a joint venture with Trafigura to create Lobito Atlantic Railway S.A. Eaglestone provided financial advisory to this JV for the 1,300 km railway concession.
• TrafiguracoreStrategic or Co-development PartnerTrafigura, a leading commodities trading house, formed a joint venture with Mota-Engil to create Lobito Atlantic Railway S.A. for the Lobito Corridor railway concession. Eaglestone provided financial advisory to this JV.
• Banco BIRcoreChannel Partner/ Reseller/ DistributorEaglestone SDVM established a partnership with Banco BIR acting as the preferred distributor for securities clients, with Banco BIR serving as the relationship bank for opening client accounts of the securities distribution firm. This partnership enables Eaglestone SDVM to reach retail and institutional investors through Banco BIR's branch network.

Scale indicators6 records

Recent moves10 records

Expansion highlights6 records

Others

• FMO (Dutch Entrepreneurial Development Bank):
• Africa Finance Corporation (AFC): AFC is a pan-African multilateral development finance institution that co-advised and financed the Lobito Corridor Railway alongside Eaglestone. AFC is a counterpart and partner rather than a direct competitor, but its project finance and infrastructure mandate in Africa makes it the closest institutional peer for Eaglestone's advisory positioning.

Broad incumbents

• Investec Bank: Investec is a South Africa- and UK-listed specialist bank with corporate advisory, debt arranging, and asset management businesses across Africa. Like Eaglestone, it pairs an advisory model with a fund management business, and it is a frequent competitor for mid- and large-cap African mandates.
• Absa Corporate and Investment Bank: Absa CIB is a pan-African corporate and investment bank providing advisory, project finance, and capital markets services across the continent. Comparable to Eaglestone in target segments — infrastructure, energy, government advisory — but with a much larger balance sheet and regional footprint.
• Rand Merchant Bank (RMB): Rand Merchant Bank is the investment banking arm of FirstRand and one of the leading project finance and corporate advisory franchises in Sub-Saharan Africa, with a deal track record across infrastructure and renewables. Eaglestone competes with RMB for African project finance and capital markets mandates and serves overlapping energy, infrastructure, and government clients.
• Nedbank Corporate and Investment Banking: Nedbank CIB is a South African investment bank with a strong project finance, infrastructure, and renewables franchise across Sub-Saharan Africa. It directly competes with Eaglestone on energy, transport, and PPP mandates, particularly in South Africa and the SADC region.
• Standard Bank Corporate & Investment Banking: Standard Bank CIB is the largest Africa-focused investment bank, with deep project finance, capital markets, and advisory capabilities across the continent. Eaglestone competes for the same infrastructure, energy, and government mandates, though at materially smaller scale and with a more boutique, independent positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/eaglestone-advisory-s-a-

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries6 records

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 Eaglestone