Blenheim gets FSA clearance to open new era in offset finance deals

The financial services company that has led a series of successful offset investments in the defence and civil aviation industries in the Middle East has achieved a major milestone in increasing the transparency and the potential of further international offset projects.
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Blenheim Capital Services has been granted authorisation by the UK Financial Services Authority (“FSA”) as a regulated firm, paving the way for the development of new products and services for the global offset market, and, it says, for London to become the world hub for offset related services.

 

Blenheim  has been at the forefront of transparency in offset advisory services since its inception, actively seeking regulation around the world and spending around 35% of its annual budget on outside compliance.

Earlier this year the company announced plans to establish a presence in the Gulf with offices in Bahrain. The Blenheim Group is registered with the US Department of State under the International Traffic in Arms Regulations (“ITAR”) regime, and Blenheim Capital Partners Limited and Blenheim Capital Services Limited are registered with the UK Export Control Organisation.

In a statement yesterday the company said that FSA authorisation and regulation will further enhance Blenheim Capital’s ability to provide services across the offset market and enable Blenheim Capital to provide investment advice and directly arrange transactions such as financing and capital raising to professional clients and eligible counterparties around the world.

It is also hoped that the regulation of offsets in the United Kingdom will provide the basis for the establishment of London as a global offset advisory and investment hub.

Grant Rogan, Blenheim Capital Chief Executive, said: “We are immensely proud to be the first offset provider to be authorised and regulated by the FSA, truly raising the bar for standards across the offset industry. As the defence market becomes increasingly complex and competitive, transparency and certainty are ever more important for governments and the companies they procure from.

“The scale of procurement we are seeing and the offset obligations they are generating require more innovative approaches to financing and delivery. The additional products and services we will be able to provide companies and governments will meet these increasingly complex needs and deliver transparency.

“We have already demonstrated that when used correctly offsets can bring real benefit to governments, their societies and corporations and I believe there is much more that can be achieved as the evolution of offsets continues.”

 

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