SERVICES

Solving the most complex business challenges

We provide services that cover all the stages of the risk spectrum.

Diligence

We are the industry leader in complex investigative due diligence – the discreet gathering and analysis of information to identify and assess undisclosed risks.

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Research

We conduct bespoke investigative research to help our clients gather strategic intelligence and analyze political risks to help with their decision making.

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Investigations & Security

We provide asset tracing and digital forensics services and support our clients in fraud and intellectual property investigations.

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Screening

We enable clients to conduct cost-effective due diligence on large volumes of third parties in practically every jurisdiction of the world.

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OUR RESEARCH TOOLS

1

Not taking information at face value. We test and re-test information to see whether it is reliable and trustworthy before presenting our analysis to clients.

2

Combining our investigative expertise with a fundamental understanding of finance and capital markets. Having undertaken field investigations and detailed source inquiries, our analysts can forensically examine detailed financial statements and corporate filings to identify discrepancies and gaps in data disclosure and presentation.

3

Managing an experienced team of investigators who have a long-established network of relationships, understand the regulatory constraints under which they must operate, and can look beyond generally available information.

On The Topic

Tough Calls: South Korea’s Telecommunications Sector Innovates Amid Headwinds

 Tough Calls: South Korea’s Telecommunications Sector Innovates Amid Headwinds 2000 1333 Blackpeak

In May 2022, Yoon Suk-yeol of the People Power Party assumed office as the new president of South Korea. Yoon,…

Blackpeak Tête-à-Tête: The Downward Spiral of the KPK

 Blackpeak Tête-à-Tête: The Downward Spiral of the KPK 1200 675 Blackpeak

In this episode, In this episode, Blackpeak Director Vanessa Capdevielle welcomes Kevin O’Rourke, an expert on Indonesian politics, to discuss the downfall of the long-established and perhaps the best-known anti-corruption agency in Southeast Asia: the KPK.

Countering Risks in the De-SPAC Flood: Due Diligence Best Practices

 Countering Risks in the De-SPAC Flood: Due Diligence Best Practices 1254 836 Blackpeak

Regulators have imposed new disclosure rules for ultimate beneficial ownership on companies in the Cayman Islands and British Virgin Islands (BVI). Now, alternative offshore hubs, such as the United Arab Emirates (UAE), have emerged to provide sought-after alternatives.

Blackpeak Tête-à-Tête: Changing Dynamics in APAC

 Blackpeak Tête-à-Tête: Changing Dynamics in APAC 1200 675 Blackpeak

Recent Geopolitical and Economic Trends in the APAC Region

Blackpeak Tête-à-Tête: Partnerships in the Middle East: the Permutations and Pitfalls

 Blackpeak Tête-à-Tête: Partnerships in the Middle East: the Permutations and Pitfalls 1200 675 Blackpeak

Middle East legal expert Christopher Gunson joins us to discuss how companies can go about selecting a local partner in the region, the five main types of partner, and the most common mistakes that companies make when entering into a partnership.

Shifting Tides in the Offshore World

Shifting Tides in the Offshore World

 Shifting Tides in the Offshore World 2121 1414 Blackpeak

Regulators have imposed new disclosure rules for ultimate beneficial ownership on companies in the Cayman Islands and British Virgin Islands (BVI). Now, alternative offshore hubs, such as the United Arab Emirates (UAE), have emerged to provide sought-after alternatives.

Blackpeak Tête-à-Tête: 2020: Armageddon or Opportunity – Zeroing in on Key Markets as Investors Shake Off Pandemic’s Chokehold

 Blackpeak Tête-à-Tête: 2020: Armageddon or Opportunity – Zeroing in on Key Markets as Investors Shake Off Pandemic’s Chokehold 1200 675 Blackpeak

For this episode, recorded just before the end of the year, Alex Nasr welcomes Robin Ganguly, head of content and editor for Inframation, to talk about the investment climate and deal volume in 2020 in APAC and the key ESG trends to look out for in the coming year.

PEI | How to get an Emerging Markets Deal Done During a Downturn

 PEI | How to get an Emerging Markets Deal Done During a Downturn 1500 1000 Blackpeak

Blackpeak co-founder Jack Clode recently spoke to Private Equity International about the challenges of conducting due diligence in emerging markets given pandemic restrictions.

Blackpeak Tête-à-Tête: Forced Labor in Supply Chains: Changing Laws, Penalties and Remedies

 Blackpeak Tête-à-Tête: Forced Labor in Supply Chains: Changing Laws, Penalties and Remedies 1200 675 Blackpeak

For this episode, Jack Clode welcomes Archana Kotecha from The Remedy Project to talk about the extent and causes of forced labour in global supply chain, how to detect this risk through due diligence and audits and how the approach to remedial action needs to be improved.

Blackpeak Tête-à-Tête: Navigating Debt and Fraud Risk in a Pandemic

 Blackpeak Tête-à-Tête: Navigating Debt and Fraud Risk in a Pandemic 1200 675 Blackpeak

For this episode, recorded on July 8th, Alex Nasr welcomes Chaim Estulin, APAC senior editor at Debtwire, to discuss the impact of the COVID-19 pandemic on the distressed debt environment in Asia and how it has increased the risk for certain types of fraud.

Private Equity and ESG

 Private Equity and ESG 1200 675 Blackpeak

While the world’s largest pension funds and financial services providers have been allocating capital toward tackling environmental, social, and governance (ESG) issues, private equity (PE) firms have largely lagged behind.

Grading on a Curve: How ESG Ratings Can Fall Short in Emerging Markets

 Grading on a Curve: How ESG Ratings Can Fall Short in Emerging Markets 1200 675 Blackpeak

2019 was a banner year in the remarkable rise of ESG investing. Morningstar reported that nearly 500 actively traded funds in the United States added ESG language to their prospectuses, up from 50 in 2018.

Navigating the “Green Recovery” From COVID-19

 Navigating the “Green Recovery” From COVID-19 1200 675 Blackpeak

The global shift to green is likely to accelerate in the post-COVID-19 world, but this is only symptomatic of a broader trend where Environmental, Social, and Governance (ESG) factors are becoming more critical to businesses’ long-term viability and value.

Oil Crash Threatens Security: Nigeria’s Risks Exacerbated by COVID-19 Pandemic

 Oil Crash Threatens Security: Nigeria’s Risks Exacerbated by COVID-19 Pandemic 1200 675 Blackpeak

Oil market volatility caused by the global spread of COVID-19 is expected to push Nigeria into its worst recession in 30 years. As the country suffers from its overreliance on crude exports, a recent surge in tensions in the oil-rich Niger Delta region and its waters in the Gulf of Guinea risks further damaging an already fragile economy.

COVID-19 and Due Diligence

 COVID-19 and Due Diligence 1200 675 Blackpeak

Blackpeak is committed to providing the highest level of service to our clients and meeting your needs for high quality research and investigations. How are we delivering on this promise in these uncertain times?

Different Law, Same Challenges: New Japanese FDI Rules Unlikely to Deter Activist Investors

 Different Law, Same Challenges: New Japanese FDI Rules Unlikely to Deter Activist Investors 1200 675 Blackpeak

In November 2019, Japanese legislators revised the Foreign Exchange and Foreign Trade Act, requiring foreign investors to obtain government approval before purchasing 1% or more of a listed Japanese company in industries considered sensitive to national security.

SCMP | Cybercrime Lurks as Biggest Work-From-Home Experiment Puts State, Corporate Secrets in Peril

 SCMP | Cybercrime Lurks as Biggest Work-From-Home Experiment Puts State, Corporate Secrets in Peril 1200 675 Blackpeak

Blackpeak’s Director of Strategy Sean Chen commented on the potential for cybersecurity risks as the COVID-19 outbreak has led to the largest work-from-home experiment in Asia.

S&P Global | Healthcare IPOs in Hong Kong Face Delays As Coronavirus Hits Travel, Roadshows

 S&P Global | Healthcare IPOs in Hong Kong Face Delays As Coronavirus Hits Travel, Roadshows 1200 675 Blackpeak

Blackpeak founder Chris Leahy shared the impact of the coronavirus outbreak in the Hong Kong stock market.

The EU Implements New Regulatory Framework That May Hinder Chinese Investment

 The EU Implements New Regulatory Framework That May Hinder Chinese Investment 1200 675 Blackpeak

The EU has been tightening regulatory scrutiny of Chinese inbound investment over the last three years. The implementation in April 2019 of a new EU-wide framework for reviewing acquisitions intensifies the trend of already-declining Chinese FDI in the EU and high-profile blockages of deals there since 2016.

Security Risks in Southern Thailand: From Origins to Current Situation

 Security Risks in Southern Thailand: From Origins to Current Situation 1200 675 Blackpeak

In order to extract even more concessions from the Thai government, rebel groups in the southernmost provinces of Thailand may continue instigating violence.

FinanceAsia | Anti-graft Arrests Will Not Stop China’s Financial Liberalisation

 FinanceAsia | Anti-graft Arrests Will Not Stop China’s Financial Liberalisation 1200 675 Blackpeak

Alex Nasr’s opinion on the recent arrest of Liu Shiyu, former chairman of the China Securities Regulatory Commission.

AI Ambitions: Challenges to Innovation as the US and China Drive Global Tech

 AI Ambitions: Challenges to Innovation as the US and China Drive Global Tech 1200 675 Blackpeak

Both despite and because of the US and China competing in AI innovation for geopolitical and economic reasons, the two countries contribute to the industry’s development with their different tech and policy orientations.

There’s Wood Enough Within: Trong’s Corruption Crackdown and Implications for Doing Business in Vietnam

 There’s Wood Enough Within: Trong’s Corruption Crackdown and Implications for Doing Business in Vietnam 1200 675 Blackpeak

On 23 October 2018, Vietnam’s National Assembly elected Communist Party General Secretary Nguyen Phu Trong as the country’s President with 99.8% of the vote from the Assembly members.

Foreign Investment Regulation in the Education Sector in China

 Foreign Investment Regulation in the Education Sector in China 1200 675 Blackpeak

In August 2018, the Chinese Ministry of Justice issued a Circular seeking public comments on the recently updated Promotion of Private Education (Revised Draft) law, which cuts a clear line between government non-profit schools and private education businesses by restricting foreign capital investment in certain education entities in mainland China.

More Than a Trade War: Understanding Political Risk as US Scrutinizes Chinese Investment

 More Than a Trade War: Understanding Political Risk as US Scrutinizes Chinese Investment 1200 675 Blackpeak

In August 2018, President Trump signed a bill expanding the scope and powers of the Committee on Foreign Investment in the United States (CFIUS). The new law has important implications for Chinese…

Navigating Brazil’s 2018 Election: What Investors Can Expect

 Navigating Brazil’s 2018 Election: What Investors Can Expect 1200 675 Blackpeak

If there is anything that Sunday’s electoral results showed us, it is that Brazil’s political landscape in 2018 is as polarizing, unprecedented, and unpredictable as ever.

Financial Times | US Sanctions Companies Linked to Japanese Yakuza

 Financial Times | US Sanctions Companies Linked to Japanese Yakuza 1200 675 Blackpeak

David Suzuki’s opinion on the sanctions that the US government has imposed on companies linked to Japanese anti-social forces.

Reuters | JD.com CEO Returns to China After Arrest in U.S. Sexual Misconduct Case

 Reuters | JD.com CEO Returns to China After Arrest in U.S. Sexual Misconduct Case 1200 675 Blackpeak

Blackpeak founder Chris Leahy is quoted in a Reuters article about the recent sexual misconduct case involving the CEO of JD.com.

PERE | Real Estate’s Anti-corruption Crusade

 PERE | Real Estate’s Anti-corruption Crusade 1200 675 Blackpeak

Chris Leahy, Blackpeak’s founder, shared the challenges of conducting due diligence in China and other emerging markets with PERE.

The China A-Shares Adventure Begins

 The China A-Shares Adventure Begins 1200 675 Blackpeak

The recent inclusion of hundreds of mainland China-listed companies into the MSCI Global Emerging Markets Index means money managers are now obliged to invest in companies many know little about.

Sector Focus: Chemicals

 Sector Focus: Chemicals 1200 675 Blackpeak

Blackpeak’s team has undertaken successful investigations and research projects in chemical segments in both the public and private sectors.

Intellectual Property Practice

 Intellectual Property Practice 1200 675 Blackpeak

Blackpeak has investigated IP infringement in various industries with 50 brand protection programs completed since 2012.

Risks in Japanese Infrastructure Investment

 Risks in Japanese Infrastructure Investment 848 477 Blackpeak

Infrastructure development in Japan carries specific risks to investors. In this briefing, we highlight some of the key issues.

The Business Times | Sherlock Holmes of Shenton Way

 The Business Times | Sherlock Holmes of Shenton Way 1200 675 Blackpeak

Blackpeak founder Chris Leahy shared an interesting case from a past investigation project in Singapore with the Business Times.

Deal Street Asia | Record PE Vehicles Make Fundraising Challenging for Smaller Managers

 Deal Street Asia | Record PE Vehicles Make Fundraising Challenging for Smaller Managers 1200 675 Blackpeak

Read Blackpeak founder Chris Leahy’s interview for Deal Street Asia on private equity market outlook and deals in Southeast Asia, India, and China.

Mint | Some of Modi’s shine has come off, but he has a good scorecard: Chris Leahy

 Mint | Some of Modi’s shine has come off, but he has a good scorecard: Chris Leahy 1200 675 Blackpeak

Read Mint’s interview with Blackpeak founder, Chris Leahy, on India investment outlook.

ACFE | 3 Techniques for Finding Low-Profile Individuals

 ACFE | 3 Techniques for Finding Low-Profile Individuals 1200 675 Blackpeak

Charles Chia, Blackpeak Senior Associate, gives three tips that should breathe new life into your search for low-profile individuals

Corporate Governance Reform: Enhancing Japan’s Power to EARN

 Corporate Governance Reform: Enhancing Japan’s Power to EARN 1200 675 Blackpeak

The implementation of the Corporate Governance Code (“CG Code”) in Japan has been a central pillar of the Abe administration’s Japan Revitalization Strategy.

Cyber security Challenges in Japan’s Cryptocurrency Market

 Cyber security Challenges in Japan’s Cryptocurrency Market 1000 563 Blackpeak

In December 2017, the price of a bitcoin was more than USD 19,000 – nearly fifteen times the price for an…

Anti-social Forces Screening in Japan

 Anti-social Forces Screening in Japan 1200 675 Blackpeak

In Japan, screening for Anti-social Forces (ASF) issues requires careful, thorough review in each case. Careful and professional ASF screening cannot be achieved with a simple compliance database review…

China Briefing: Trump’s Potential Trade Actions Against China and Their Implications

 China Briefing: Trump’s Potential Trade Actions Against China and Their Implications 1200 675 Blackpeak

In his 2018 State of the Union Address, United States President Donald Trump announced that “the era of economic surrender is…

WSJ | China’s New Tack on Corruption Adds Risks for Foreign Firms

 WSJ | China’s New Tack on Corruption Adds Risks for Foreign Firms 1200 675 Blackpeak

Blackpeak’s report on the new China’s National Supervisory Law featured in Dow Jones

Small Loans, Big Profits: The Consumer Finance Market in China

 Small Loans, Big Profits: The Consumer Finance Market in China 1200 675 Blackpeak

Since early 2015, consumer finance companies have been some of the hottest investments in China. But competition is harsher than ever, with pioneers and new entrants fighting for their slice of the pie. The industry is now at risk of becoming another investment bubble.

Security Awareness in Japan

 Security Awareness in Japan 1200 675 Blackpeak

Despite being one of the safest countries in the world, Japan lags behind many other economies when it comes to security and safety measures to protect the country against major threats such as terrorism, cyber-attacks or geopolitical tensions.

Forbes | The Odds And Perils Of Gambling Successfully On Japan’s New Casinos

 Forbes | The Odds And Perils Of Gambling Successfully On Japan’s New Casinos 1200 675 Blackpeak

David Suzuki’s opinion on the new casino legislation in Japan in an article for Forbes.

China’s 19th Party Congress: What You Should Know

 China’s 19th Party Congress: What You Should Know 1200 675 Blackpeak

China is at a critical turning point as the 19th Party Congress of the Chinese Communist Party (“CCP”) will be underway next week. The meeting will shape China’s political and economic trajectory over the next five years and beyond with key decisions made on party leadership and policy directions.

WSJ | Ex-Wives and Kids’ Schools: Digging for Dirt on Chinese Stocks Gets Personal

 WSJ | Ex-Wives and Kids’ Schools: Digging for Dirt on Chinese Stocks Gets Personal 1200 675 Blackpeak

Sean Chen of our Hong Kong office shared an interesting war story from a past due diligence project in China with The Wall Street Journal

Investing in Myanmar: Southeast Asia’s Last Frontier

 Investing in Myanmar: Southeast Asia’s Last Frontier 2508 1672 Blackpeak

Myanmar’s robust economic growth and untapped potential have led many investors to name the country as “Southeast Asia’s last frontier”. Blackpeak shares its views on top foreign direct investment (FDI) sectors, key investors and investment risks and challenges in Myanmar.

Japanese Gaming: From the Bowels of Kabukicho to a Place in the Sun

 Japanese Gaming: From the Bowels of Kabukicho to a Place in the Sun 1200 675 Blackpeak

After years of debate, the Japanese government has legalized casinos in the country. Nothing is expected to be built in time for the 2020 Olympic Games in Tokyo. So what is behind this historic decision? What are the consequences for the economy?

Le Monde | Les Yakuza Font Peau Neuve

 Le Monde | Les Yakuza Font Peau Neuve 1200 674 Blackpeak

Blackpeak’s head of global Japanese business, David Suzuki, quoted in an article from the leading French newspaper, Le Monde, talking…

AVCJ | Behind the Curve

 AVCJ | Behind the Curve 1201 675 Blackpeak

Chris Leahy, Blackpeak co-founder, quoted in an article from the Asian Venture Capital Journal (AVCJ) talking about how private equity…

Investing In The Philippines: Is The Road Still Bumpy?

 Investing In The Philippines: Is The Road Still Bumpy? 1200 675 Blackpeak

It has been nine months since Duterte became president of the Philippines. A shift towards a martial law seems entirely plausible. What can investors expect in the coming months?

RANE | Japan Rolls the Dice on Legalizing Casinos

 RANE | Japan Rolls the Dice on Legalizing Casinos 1200 675 Blackpeak

“Organized crime’s involvement will not be as overt or blatant as some media outlets anticipate, but there are serious concerns that the legalization of casinos…

Indian Family Businesses: Risks for Investors

 Indian Family Businesses: Risks for Investors 1200 675 Blackpeak

India’s rapid economic progress is in large part due to the dominance of successful family-run conglomerates. While these companies have become some of India’s most successful, several have been tainted by corporate governance scandals…

WSJ | Investors Gun-Shy as China Pulls Trigger on Shenzhen Stock Link

 WSJ | Investors Gun-Shy as China Pulls Trigger on Shenzhen Stock Link 1200 675 Blackpeak

Blackpeak Director of Strategy, Sean Chen, quoted in the Wall Street Journal to comment on DD requirements for Shenzhen investments As…

The Business Times | Handling the Yakuza’s Pervasive Presence in Japanese Business

 The Business Times | Handling the Yakuza’s Pervasive Presence in Japanese Business 1200 675 Blackpeak

The Head of Blackpeak Tokyo office, David Suzuki, quoted in an article from the Business Times Singapore: “Yakuza groups have…

Japan’s Yamaguchi-gumi Split and the Formalities of Gang War

 Japan’s Yamaguchi-gumi Split and the Formalities of Gang War 1200 674 Blackpeak

In the wake of the recent split of the Yamaguchi-gumi, Japan’s largest organized crime group, Blackpeak has insights and an infographic to decipher the yakuza world and its recent events.

Investing In The Philippines: A Bumpy Road Ahead?

 Investing In The Philippines: A Bumpy Road Ahead? 1200 675 Blackpeak

Post the Philippines’ elections, Blackpeak shares its views on the incoming Duterte regime and how it may affect investment risks in the Philippines.

Deal Street Asia | Growing Opportunities in Asia Come with Challenges in Due Diligence

 Deal Street Asia | Growing Opportunities in Asia Come with Challenges in Due Diligence 1200 675 Blackpeak

Experts discussed the evolving challenges for PE firms operating in Southeast Asia during a panel discussion at the SCVA SEA…

Keeping a Cool Head as China’s Internet Sector Heats Up

 Keeping a Cool Head as China’s Internet Sector Heats Up 1200 675 Blackpeak

China’s Internet sector continued to grow robustly in the first half of 2015: there were 518 investment deals in the Internet sector in the first half of the year with a total value of USD 6.57 billion, the highest point since 2012.

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