Patterns Private Capital
IV/ Partnerships

The partner
network.

Patterns Private Capital works outcome-linked. Engagements are structured around outcome alignment with a network of two regional JVs and one operating JV across Asia and the Middle East. We sit on the same side of the table as the principal, paid out of the outcome rather than the calendar.

What it is

Partnerships, as Patterns Private Capital practises them, are engagements where we are paid out of the outcome rather than the calendar. We sit on the same side of the table as the principal: aligned at the GP economic level on a fund vehicle, on the cap table of an entity we have helped build, in a share of the carry or realised outcome of a transaction we underwrote, or as a co-owner of a vehicle we and the partner stand behind together.

We use this structure where our conviction is high enough that the work would have been done on a fee basis, and the counterparty wants Patterns Private Capital held to the outcome rather than to the engagement letter. It is not used as a discount on advisory fees, and it is not used to paper over alignment that does not otherwise exist.

Engagement structure

Engagements are structured around outcome alignment. Patterns Private Capital takes a position alongside the institutional partner, with the specific commercial form agreed at the outset of each engagement and confidential to that engagement. Common forms include joint venture economics, equity participation, revenue-linked arrangements, and co-ownership of vehicles. The structure is selected to reflect the scope of work, the duration of the partnership, and the nature of the institutional outcome.

Why outcome-linked

Fees pay for judgement. Partnerships pay for the consequence of judgement. The choice between them follows from the work. Where the evidence is contested, the timeline is short, or our role is to inform a decision the principal owns, fees are the right structure. Where our conviction is durable, the timeline is long, and the work is the spine of the outcome, a partnership is the right structure.

Standards of conduct

The standards below govern Patterns’ conduct when it holds partnership economics alongside, or in place of, fee-based compensation. They are binding on Patterns Private Capital and disclosed to counterparties at inception.

01 · Engagement standards
  1. 1.1Partnership economics are accepted only where conviction is high and alignment is structural. They are not used as a substitute for fees, nor as a means of pricing relationship rather than risk.
  2. 1.2The view, the evidence, and the counter-evidence are produced to the same standard irrespective of compensation form. Analytical output is not adjusted to reflect Patterns’ economic interest in the outcome.
  3. 1.3Conditions for termination of a partnership are documented at inception, not negotiated in retrospect.
  4. 1.4Any equity or carried interest held in a counterparty's vehicle is disclosed in writing to every other party for whom that interest is material.
02 · Restrictions
  1. 2.1Patterns Private Capital does not take equity or carry in vehicles for which it would decline the underlying work on a fee basis.
  2. 2.2Patterns Private Capital does not hold partnership economics in counterparties whose conduct it would not defend before an LP, a board, or a regulator.
  3. 2.3Partnership structures are not used to obscure the allocation of economics. All such arrangements are documented and disclosed to the parties they bear on.
  4. 2.4Outcome-linked compensation is treated as principal risk. Losses are recognised when they occur and reported on the same basis as gains.
The JV network

Outside Europe, a significant portion of client engagements are executed jointly with one of two regional partner firms. Claymont co-owns Patterns Asia; Equivator co-owns Patterns GCC. In each region, the partner firm’s principals are Patterns’s management: same people, same balance sheet exposure, same accountability.

Across each of these, Patterns Private Capital holds the view of the sector, the institutional relationships, and the capital architecture under which mandates are structured. The partner firms hold regional execution, operating capacity, and the principal-side relationships on the ground.

Alongside the regional JVs, Patterns Private Capital holds two named alliances, Claymont Equivator Infrastructure (CEI) and HKCE, Hydra Compute, covered in detail in the next section.

The co-ownership is structured as outcome alignment at the firm-to-firm level. Each agreement is written, and disclosed to every counterparty for whom the disclosure is material.

  1. Partner platform
    Global · JV

    Claymont↗

    Global capacity
    4.8 GW
    Markets
    17 in development
    Regional offices
    5 on three continents

    AI data centre development platform integrating compute, energy, and capital as one system. 4.8 GW of global capacity across Asia Pacific, Europe, the Nordics & UK, and the Middle East. Founded by Florian Loloum and Fabian Wong, with regional CEOs in each market. Co-owns Patterns Asia alongside the Patterns Private Capital partners; Claymont's management is Patterns’ management in the region.

    Principals · Florian Loloum · Fabian Wong
  2. Partner firm
    Middle East · JV

    Equivator↗

    Capital base
    USD 150m
    Regulated
    KSA (CMA) · ADGM

    Gulf-based investment and operating platform founded by Faisal Ali Al Sanie and Enes Şehzade. Invests in digital infrastructure and industrial platforms across the Gulf under KSA (CMA) and ADGM regulation. Co-owns Patterns GCC alongside the Patterns Private Capital partners; Equivator's management is Patterns’ management in the region, and carries the principal-side relationship with sovereign and quasi-sovereign allocators.

    Principals · Faisal Ali Al Sanie · Enes Şehzade
Named alliances

Two named alliances sit under the Claymont Equivator platform, each with a defined scope, counterparty roster, and governance. In both, Patterns Private Capital holds the underwriting, capital architecture, and institutional reasoning layer.

GPU financing & GPUaaS

HKCE, Hydra Compute.

Institutional GPU financing and GPU-as-a-Service, at scale.

Named alliance between Patterns Private Capital, Hydra Host, and Kardeshev, sitting under the Claymont Equivator platform, that pairs institutional capital architecture with an end-to-end GPU procurement, deployment, and monetisation stack.

Data centres
50+
GPUs under management
60,000+
Utilisation rate
>90%
Geographic focus
U.S., W. Europe, MENA
01 · GPU financing structures

Institutional capital vehicles with senior-debt-optimised capital stacks, designed for sovereign wealth funds, pensions, and institutional allocators seeking risk-adjusted exposure to contracted compute.

02 · AI Factory Accelerator (AIFA)

Integrated design, procurement, financing, software, and monetisation for AI-specialised data centres, delivered as a single pathway from site to revenue.

03 · Brokkr monetisation platform

Hydra's GPU management and monetisation layer, delivering an average utilisation rate above 90% across the installed base, without operators needing to source customers.

04 · Sovereign & institutional access

Co-GP fund structures, including the Hydra Digital Infrastructure Fund I, aimed at sovereign, institutional, family office, and high-net-worth investors building exposure to the AI infrastructure buildout.

→View the HKCE partnership
Offtake origination, capital enablement & execution

Claymont Equivator Infrastructure.

Demand is the constraint. Structured offtake is the solution.

Operating JV between Claymont, Equivator, and Patterns Private Capital. A purpose-built execution platform delivering GPU-native, institutional-grade AI data centre capacity across the GCC and selected European jurisdictions. Offtake is contracted before capital is committed.

Claymont DC & AI pipeline
3.0 GW
Dapple secured land & power
2.8 GW
ASEAN Sovereign AI Program
1.8 GW
GPUs deployed historically
70,000+
01 · Offtake origination

Origination and structuring of hyperscale and enterprise offtake for deployable, phased capacity. Direct engagement with hyperscalers, cloud providers, and enterprise buyers, matching expansion requirements to qualified operator capacity. Where technical alignment is confirmed, offtake can be originated and structured inside a 60-day window.

02 · Capital enablement

Introduction and structuring of capital only once demand is contractually secured. Two paths are available: direct project participation in pre-qualified CEI projects, and engagements with land-and-capital owners with offtake requirements, where CEI originates demand against an existing position. Capital follows offtake in every case.

03 · Execution infrastructure

Technical design review, power planning, grid coordination, phasing strategy, commercial structuring, and offtake framework negotiation. End-to-end advisory support across the full data centre lifecycle, delivered as part of a full mandate or selectively where required to enable execution readiness.

04 · Hyperscaler-grade standards

Tier III/IV facilities, 80-300 kW per rack, scalable hybrid cooling, secure dark fibre with direct international connectivity including direct-to-USA routes, sovereign cloud configurations, and compatibility with next-generation chip architectures (NVIDIA, with optional AMD and Google-based configurations).

→View the CEI partnership
→See the Advisory practice→Begin a partnership conversation