34. It enables Direct “Peer to Peer” (P2P)
Credit and Investment
09/03/10 34
35. LLPs are now in pervasive use for purposes
never intended...
09/03/10 35
36. ...even in the Public Sector, where Glasgow
has five municipal LLPs
09/03/10 36
37. Introducing the Capital Partnership
AssetsAssets
Investors
Payment
% %
Custodian
Use
Managers
Users
38. Capital Partnership – direct Peer to Peer
investment in productive assets
09/03/10 38
39. Hilton Capital Partnership ( > £1bn)
Capital Partnership LLP
10 UK Hotels
Gross Revenues
Hilton Group
Capital User
Consortium LLP
Capital Provider
Bank
Property
Developer
Hotel
Specialist
%%
%%%
40. Productive assets are held by a “Custodian”..
AssetsAssets CustodianCustodian
Ownership
41. …Investors put in Financial Capital in
money, or “money’s worth”…
AssetsAssets
Investors
Custodian
Ownership
Financial
Capital
42. …Managers provide Human Capital of
time, expertise and experience....
AssetsAssets
Investors
Custodian
Ownership
Human
Capital
Financial
Capital
Managers
43. ..Users pay for the use of Capital
AssetsAssets
Investors
Payment
% %
Custodian
Use
Managers
Users
55. They may invest equipment & materials if
they are willing and able
56. ...but must invest agreed profit margin,
thereby giving a stake in the outcome
57. Investors provide risk capital for costs
suppliers cannot or will not invest
AssetsAssets
Investors
Custodian
Ownership
Risk
Capital
58. Managers provide Human Capital of
time, expertise and experience
AssetsAssets
Investors
Custodian
Ownership
Human
Capital
Financial
Capital
Managers
75. What about Liquidity? Investors selling
Units may not find Investor buyers....
09/03/10 75
76. No Problem! Consumers will buy if the Unit
price falls below electricity market price...
09/03/10 76
77. ...because they would profit by buying Units
and redeeming them against consumption
09/03/10 77
78. Energy Pool
Mega Watts
(Custodian)
Mega Watts
(Custodian)
Unit
Investors
Consumers
Equity Shares
Managers, Communities
electricity£ or Units
Redeemed
£
Units
Units
100. There are no adversarial contractual
relationships – contrats de mandat
09/03/10 100
101. Capital Partnership requires no legislation
Master
Partnership
Master
Partnership
Financial Capital
(Money, IP etc)
Financial Capital
(Money, IP etc)
UsersUsers
Human Capital
(Developers, Operators)
Custodians
(National)
Custodians
(National)
% %
€
09/03/10 101