Sixteen years on, social impact bonds are still a rounding error.
Were the sceptics right — or have we never actually tried? What the outcomes data, and the contracts behind it, really show.
Get it in the briefing →Named instruments. Real rulings. The hard question, asked from the high ground. This is the long-form home; the briefing sends the highlights to your inbox.
Sample pieces shown below — the briefing’s back catalogue lands here as it publishes, each echoed on Substack and LinkedIn.
Were the sceptics right — or have we never actually tried? What the outcomes data, and the contracts behind it, really show.
Get it in the briefing →Sustainability-linked bonds promise a coupon penalty for missing the target. The issuer that invented the instrument missed — and what it paid, and what the call schedules and observation dates actually say, is the whole story.
Read in the briefing →Why legal-AI tools shine in the sales call and stumble on your file — and how to test one honestly before you buy.
Get it in the briefing →Before the briefing there were the books: six volumes of structured finance law, written from inside the market — two of them mid-crisis. The scepticism has a paper trail.
Written while the market was still smoking: what securitisation should keep, and what it had coming. International Banking & Finance Law Series, vol. 10.
The documents behind the crisis, read as documents — finished as the crisis was making the case. International Banking & Finance Law Series, vol. 8.
The market at full speed, chapter by chapter — including the structures that would later need explaining.
Practitioners from across the global market on where securitisation was heading — documentation, regulation, Basel.
Synthetics, insurance risk and alternative assets — the frontier before it was fashionable.
A guide to structuring innovative securitisations — synthetic risk transfer, before the acronyms went mainstream.
A regular, no-fluff read on where sustainable finance, impact and legal AI are really heading — named instruments, real rulings, the hard question.
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