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BlackSwan Capital is pleased to announce that Dragan Blaškan, based in Split, Croatia, has joined the firm as Partner, further strengthening BlackSwan’s presence and business development capabilities across the Western Balkans. Dragan brings extensive international business development experience and a strong sector background across renewable energy, data centers and raw materials — three areas at…
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BlackSwan Capital is pleased to announce a new advisory mandate for an approximately 100 MW utility-scale solar PV project in Romania. The mandate represents another significant addition to BlackSwan Capital’s growing renewable energy transaction pipeline in Central and Eastern Europe and further strengthens our activities in one of the region’s most dynamic energy markets. An…
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Expanding BlackSwan Capital’s engagement in India’s rapidly growing data centre and digital infrastructure market BlackSwan Capital will be represented at DC Summit India 2026 in Mumbai on 17 September 2026, strengthening the firm’s engagement with one of Asia’s most dynamic data centre and digital infrastructure markets. Narendra Gitay, Managing Partner & Head of Business Development…
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Exclusive mandate underscores BlackSwan Capital’s growing role in institutional renewable energy transactions across Europe BlackSwan Capital has been appointed as the exclusive financial advisor for the sale of a large-scale onshore wind project with an installed capacity of approximately 500 MW in Northern Spain. The project represents one of the largest privately marketed renewable energy…
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Experienced capital markets professional and internationally connected business developer joins BlackSwan Capital Vienna, Austria – BlackSwan Capital is pleased to announce the appointment of Markus Scheck, MBA, as Partner – International Business Development & Real Estate. His arrival represents another important milestone in the firm’s strategy of continuously expanding its international advisory capabilities by bringing…
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There are business trips. And then there are journeys that strengthen friendships, deepen trust, and shape the future of an international organization. When Narendra Gitay, Managing Partner and Head of Business Development APAC & Global Head of Commodities, BlackSwan Capital, together with his wife Nikita, travelled thousands of kilometres from Pune, India, to Vienna, Austria,…
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BlackSwan Insights When more than 100,000 industry professionals gather in one place, conversations extend far beyond the latest technologies. They revolve around investment opportunities, strategic partnerships, infrastructure, and the future direction of the global energy transition. This year, BlackSwan Capital was represented at Intersolar Europe 2026 in Munich by Michael Neswal, Partner and Chief Technology…
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Vienna, Austria – BlackSwan Capital has been mandated to support the sale of a portfolio comprising more than 700 MW of onshore wind projects currently under development in Romania, further expanding the firm’s renewable energy advisory activities across Central and Eastern Europe. The mandate is the result of the close cooperation between BlackSwan Capital and…
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A Milestone for Austrian Innovation and Europe’s Energy Future BlackSwan Capital proudly congratulates Emerald Horizon AG on its successful listing on the Vienna Stock Exchange. The IPO marks a defining milestone in the company’s development and stands as a testament to years of innovation, entrepreneurial vision and disciplined execution. We extend our sincere congratulations to…
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Why Institutions Almost Always Win Most people believe markets are fundamentally open. Open competition.Open access.Open opportunity. But real markets do not operate as evenly distributed systems. They operate through structure. And institutions sit at the center of that structure. The Illusion of Equal Participation Modern financial systems create the perception that everyone participates under the…
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Why Real Power Is Built Through Structure, Not Visibility Most people misunderstand power. They assume power belongs to whoever has the most money, the largest public profile or the highest valuation. But real power operates differently. It is rarely loud. Rarely visible. And almost never located where the public is looking. Because real power is…
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Why the Next Decade Will Reward Execution, Not Liquidity The era of cheap capital is ending. But this is not simply a financial transition. It is a structural reset. A reset of how markets define: valueriskgrowthresilience And most importantly: survival. The End of an Artificial Environment For more than a decade, markets operated under abnormal…
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Why Artificial Growth Is Collapsing For more than a decade, growth became the dominant metric of success. Revenue growth.User growth.Market expansion.Valuation growth. The market rewarded scale above almost everything else. But one critical question was rarely asked: Was the growth operationally sustainable — or simply financed by cheap liquidity? That distinction now matters more than…
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Why Refinancing Risk Is Becoming Systemic For years, refinancing was treated as routine. Debt matured.New debt replaced old debt.Liquidity remained available. The system functioned on one dominant assumption: capital would always be accessible. That assumption is now being tested. And the implications are structural. The Refinancing Era The cheap capital environment normalized refinancing dependency across…
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How Cheap Money Created Structural Dependency Cheap capital did not just reshape markets. It reshaped behavior. For more than a decade, businesses operated in an environment where liquidity was abundant, refinancing was routine and capital availability was widely assumed. This changed how companies were built. And more importantly: It changed what they became dependent on.…
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How Easy Money Created Structural Weakness For more than a decade, the global financial system operated under one dominant condition: Cheap capital. Low interest rates.Abundant liquidity.Continuous refinancing. This environment reshaped markets, business models and investment behavior on a structural level. And now it is ending. The Era of Artificial Stability Cheap capital created the illusion…
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Why Independence Is the Only Real Control Every investment is built on a structure. Every structure is built on assumptions. And every assumption introduces dependency. This is the final layer of the Dependency Trap: Control only exists where dependency ends. The Final Distinction Across this series, we have broken down the reality behind modern investments:…
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Why “Stable” Assets Are Often the Most Fragile Stability is one of the most trusted signals in investing. And one of the most dangerous. Because what appears stable is often not resilient. It is simply untested. The Comfort of Stability Investors are naturally drawn to stability. Predictable cash flows.Consistent performance.Low volatility. These characteristics suggest: securitycontrollow…
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Why Control Is Often an Illusion Control is one of the most overestimated concepts in investing. Because it is assumed. Documented. And rarely tested. But in reality, control is not what is written down. It is what holds — when conditions change. The Assumption of Control Most deals are structured around the idea of control.…
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The Hidden Dependencies That Actually Decide Outcomes Most risks are not visible. Because they are not in the model. They are not in the data room. And they are rarely captured in contracts. But they are there — in every deal. And they decide everything. The Illusion of Transparency Modern investment processes create the impression…
