Carrivelle exists to put the entire balance sheet on one page, and to make one party answerable for what that page shows.
Our income is the fee a client agrees to pay. No manager, bank, insurer or platform pays us for access or distribution, and any retrocession reaching us is credited to the account it came from. The fee schedule is fixed each year in writing, and every amount we received during that year appears in the annual fee statement.
Recommendations arrive as documents with the reasoning attached, including the case against the position. Decisions taken in meetings are minuted and circulated within five working days. Years later a family can reconstruct why an allocation was made and who supported it, which is what makes a considered change of course possible.
We invest directly in operating assets, which demands an internal diligence capability. Transactions are underwritten in-house, with an investment memorandum, site visits where the asset is physical, independent technical review and terms negotiated by us. A family reads the same memorandum the committee reads.
The colleague advising on allocation also sees the ownership structure, the succession plan, the lending position and the charitable commitments. Nothing is handed to a separate department that lacks the context. When a grant pledge and a capital call fall in the same quarter, somebody has already planned for both.
Allocation starts from the investment policy statement: return objective, loss tolerance, liquidity schedule, reference currency and the constraints a family imposes for its own reasons. We model the portfolio against long-horizon assumptions and stress it against scenarios that would hurt the client’s balance sheet. Bands go into the policy, and the allocation is reviewed against them each year.
One statement covers every account, custodian, currency and entity, delivered quarterly with performance calculated after all costs. Controlling lives underneath it. We check custodian valuations against independent sources, reconcile transactions, verify fees charged by third parties and pursue whatever has been overcharged. Errors found during the year are listed in the annual review with the amount recovered.
We coordinate with your legal and tax advisers to set up and administer your wealth structures and manage all ongoing compliance. We also regularly review existing arrangements to ensure they still serve your original goals.
A clear succession plan details how assets will transfer across generations, mapping out jurisdictional taxes and the necessary liquidity. We build and stress-test this roadmap with your executors, maintaining the final documents so everything is ready when needed.
Younger members follow a programme that begins with reading a consolidated statement and ends with sitting in on an investment committee. Sessions cover borrowing, currency risk, ownership structures and what a board expects of a director. We run them individually or as a cohort drawn from several families, since peers ask the questions nobody wants to ask an adviser.
Philanthropic advisory covers mission definition, choice of vehicle, grant assessment and measurement, with the detail set out on the Philanthropy page. In practice, we prepare the assessment memo for each proposed grant and administer the disbursement schedule. An annual report follows, written against indicators the family agreed at the outset.
Capital protection shapes our portfolio construction. We size positions so that severe drawdowns never force a sale, maintaining two years of liquidity to cover all family obligations without interrupting your growth assets. We use leverage sparingly, and only when backed by contractual cash flows. In private markets, we underwrite transactions directly and take active oversight roles. In public markets, we rely on low-cost instruments, preserving our fee budget for areas where active selection truly adds value. Everything is anchored by your policy statement, ensuring disciplined, documented rebalancing whenever the portfolio drifts.
Implemented mainly through index and factor instruments, with active managers used where evidence supports the fee.
Fund commitments alongside direct positions in enterprise software, semiconductor supply, payments infrastructure and industrial automation.
Operating solar and onshore wind assets, grid-scale battery storage, transmission capacity and metering technology.
Permanent crops, arable farmland under long leases, water rights and controlled-environment production.
Logistics property, fibre networks, data-centre capacity and inflation-linked concession income.