Prospectus · 2026
Est. MMXXIV
M Meridian Club Private Members' Association & Investment Partnership
◆   ◆   ◆
18.4% Net Ann. Return
£340M AUM
7 Years Track Record
240 Patron Members
12 Charter Seats Open
Meridian Club Ventures Ltd.
17 St. James's Square, London
Confidential — 2026 Prospectus
Regulated by the FCA
Ref. No. 814270
Document: MC-IP-2026-V2.1
The Thesis
◆   I. The Thesis   ◆

Where Capital Meets Culture

The most durable returns are forged where influence, intelligence, and intimacy converge.
The Meridian Principle

We hold a singular conviction: access is alpha. The most asymmetric investment opportunities do not surface in prospectuses — they arise through quiet conversation among principals of consequence.

Meridian Club exists at the crossroads of two institutions: an invitation-only salon, where the foremost minds in finance, law, the arts, and technology convene — and a disciplined private investment partnership deploying capital into illiquid and pre-public opportunities sourced exclusively through our network.

Our members do not merely invest. They co-curate deal flow, share proprietary intelligence, and enjoy the compounding social capital of a genuinely private institution that has never taken an external advertisement.

Three Pillars
  • Proprietary Deal Flow — Pre-syndication co-investment rights across private equity, real estate, and growth-stage ventures
  • Intelligence Network — Curated monthly symposia with principals across eight industries and four continents
  • Cultural Capital — Access to the arts, diplomatic circles, and discretionary counsel that underpins long-term reputation

"There is no finer gathering in Europe of minds disposed equally to beauty and to commerce."

— Member since 2019, Former Governor, Bank of England (Name Withheld)
The Opportunity
◆   II. The Opportunity   ◆

A Structural Gap in Private Markets

Illiquid premium, relationship scarcity, and a generational reallocation of wealth.
$17.2T Global Private Market AUM Projected 2027 · McKinsey Global Institute
4.8× Illiquidity Premium vs. Public Equities Net IRR advantage, 10yr rolling · Cambridge Associates
£68T Wealth Transfer — UK & Europe Intergenerational capital, 2024–2040 · Capgemini
Why Private Markets Outperform
  • Information asymmetry rewards relationship depth over analytical horsepower
  • Illiquidity discount compresses entry valuations by 20–35% vs. comparable public comps
  • Long capital lock-ups align incentives; short-term volatility is structurally absent
  • Co-investment rights (Meridian exclusive) eliminate the 2&20 double-layer in syndicated vehicles
Why Now

The tightening of public market valuations since 2022 has compressed the pool of credible institutional alternatives. Meanwhile, family offices — historically the dominant force in direct private placement — are undersupplied with curated deal flow and increasingly seek collegial validation before committing.

"The Meridian Club fills the white space between the deal-sheet and the dining table — and we believe that space is where the next decade's returns will be made."

Managing Partner, Meridian Club
The Portfolio
◆   III. Portfolio & Offering   ◆

A Balanced Architecture of Return

Four mandate streams, each curated for complementary risk profiles and liquidity horizons.
Stream I
Private
Equity
Co-Invest

Pre-syndication rights across buyout and growth stages. Typical ticket: £500K–£5M. Target IRR 22–28%. Hold 4–7 years.
38% of AUM
Stream II
Prime
Real
Estate

Central London, Paris, and Vienna trophy assets. Ground lease structures. Target yield 7.2% net + capital appreciation. Hold 7–12 years.
29% of AUM
Stream III — Featured
Pre-IPO
Growth
Ventures

Series B–D co-lead across fintech, climate technology, and precision medicine. Sourced via network only. Target MOIC 3–6×.
22% of AUM
Stream IV
Rare Assets
& Alternative
Stores

Fine art, château-classified wine, numismatics, and private archive manuscripts. Curated portfolio with annual valuation. Target appreciation 9% p.a.
11% of AUM
£340M
Total AUM
£2.8M
Avg Member Commitment
31
Active Portfolio Companies
4
Fully Realised Exits (2022–25)
Performance Record
◆   IV. Performance Record   ◆

Seven Years of Compounding Distinction

Net returns after all fees, independently verified by Grant Thornton LLP · FY2018–FY2025.
18.4% Net Annualised Return 7-year CAGR to Dec 2025
2.97× Total Net MOIC Inception-to-date, realised + marked
0.74 Max Drawdown (Sharpe) Annualised Sharpe ratio, 7yr
-3.1% Worst Single Year FY2022 (global rate shock) · recovered FY2023
Year Gross Return Net Return MSCI World Excess Notable Realisation
FY2019 22.8% 19.6% 27.7% –8.1% Maiden co-investment exits
FY2020 15.4% 13.1% 16.5% –3.4% Real estate portfolio revaluation
FY2021 31.2% 27.9% 21.8% +6.1% Partial exit: Aurum HealthTech (4.2× MOIC)
FY2022 –1.8% –3.1% –18.1% +15.0% Downside protection via real assets
FY2023 24.7% 21.8% 24.4% –2.6% Full exit: Cerulean Logistics (6.1× MOIC)
FY2024 19.3% 17.1% 18.0% –0.9% Partial exit: Verdant Climate (3.8× MOIC)
FY2025 22.1% 19.7% 12.4% +7.3% Luminary Art Fund — 38% NAV gain
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RESULTS · VERIFIED BY GRANT THORNTON LLP · DATA AS OF 31 DEC 2025
Network & Pipeline
◆   V. Network & Pipeline   ◆

The Meridian Effect in Numbers

Quantified proof that intimacy at scale is the rarest moat in private markets.
£1.8B
Deal Flow Reviewed, 2024–25
94.2% declined · 5.8% selected · 100% sourced through network
Deal Origination by Channel
Member Referral
68%
Symposia / Events
19%
Adviser Network
13%
Inbound / Unsolicited
0%
240 Active Patron Members Invitation only · 12 seats open 2026
97% Member Retention Rolling 3-year basis
18 Symposia Per Annum London, Vienna, New York, Singapore
£12M Avg New Capital / Cohort 2024 & 2025 cohort average

"Joining Meridian was the single highest-ROI decision of my professional life — measured not only in returns but in the quality of counsel around the table."

— Series Founding Member, 2018 · Family Office Principal (Name Withheld)
Membership
◆   VI. Membership & Terms   ◆

An Architecture of Belonging

Three tiers of participation, each designed for a distinct depth of engagement.
Patron Member
Full co-investment rights · All symposia · Quarterly briefings
£250K/yr
Associate Member
Observer status · Invitation-only symposia · No co-investment rights
£65K/yr
Fund Fee Structure
  • Management: 1.5% p.a. on committed capital (below market 2%)
  • Carried Interest: 15% above 8% preferred return (hurdle rate)
  • Lock-up: 5-year minimum per stream; quarterly liquidity windows thereafter
  • Minimum Commitment: £1,000,000 per investment stream
What Charter Patronage Includes
  • Named seat on the Meridian Investment Committee, meeting quarterly at our St. James's premises
  • First-look rights on all co-investment opportunities — 72-hour exclusive window before wider Patron circulation
  • Annual private dinner with the Managing Partnership and two distinguished external principals
  • Curated introductions to counterparts across the Meridian network — vetted and personally facilitated
  • Access to the Meridian Private Library, including proprietary research and commissioned reports unavailable publicly
  • Bespoke legacy planning consultation — art, estate, philanthropy — via Meridian's retained specialist panel
2026 Charter Cohort
12
Charter Seats Remaining
Applications reviewed on a rolling basis. Cohort closes 30 September 2026.
The Principals
◆   VII. The Principals   ◆

Stewards of Consequence

Assembled over a decade; united by intellectual rigour, fiduciary duty, and a distaste for the ordinary.
Lady C. Ashworth
Managing Partner
Former Head of Alternatives, Rothschild & Co. Managed £4.2B in illiquid mandates across 14 years. Inaugural chair of the FCA Private Markets Advisory Panel. MA (Oxon), INSEAD MBA. Appointed CBE 2021.
Dr. S. Ferreyra
Chief Investment Officer
Former Partner, Ardian (Paris). 22 years deploying growth-stage capital across Europe and Latin America. PhD in Financial Economics, Sciences Po. Architect of Meridian's pre-IPO venture programme and three of four fully realised exits.
Mr. T. Okonkwo
Partner, Real Assets
Former Global Head of Real Estate, Savills Investment Management. Structured £2.8B in trophy commercial and residential assets across six jurisdictions. LLB (LSE), FRICS. Advisory board: V&A Museum, British Museum Acquisitions Committee.
Advisory Panel:   Former Governor, Bank of England · Sir Geoffrey Marsh (Diplomat) · Prof. M. Langlois (Sorbonne, Art History) · Dame Ruth Kellaway (Biotech)
The Ask
◆   VIII. The 2026 Ask   ◆

Inviting Twelve Charter Patrons

A single cohort. A limited window. An enduring institution.
£40M
Target Charter Cohort Capital
Twelve seats · Minimum £2M per Charter Patron · Close 30 Sept 2026
Deployment Plan
PE Co-Investments
40%
Pre-IPO Ventures
30%
Prime Real Estate
20%
Rare Assets
10%
  • Lead allocations already identified for three co-investments in the 2026 pipeline
  • First-look opportunity in two European growth assets available immediately upon close
  • Pro-rata rights reserved for Charter Patrons across all future Meridian vehicles
Projected 5-Year Charter Value
2.38×
Base Case MOIC (18% net)
3.11×
Bull Case MOIC (25% net)
1.62×
Bear Case MOIC (10% net)
8%
Preferred Return Hurdle
ILLUSTRATIVE · NOT A GUARANTEE OF RETURNS
Next Steps
  • Submit a Letter of Intent to the Membership Committee
  • Introductory principals' dinner (London or Vienna — your preference)
  • Due diligence package dispatched within 5 business days of LOI receipt
  • Investment Committee approval and formal subscription by 30 Sept 2026
Contact
◆   IX. Begin the Conversation   ◆
Meridian Club
Where capital endures and culture compounds.
◆   ◆   ◆
membership@meridianclub.co.uk
meridianclub.co.uk/prospectus
Data room: secure.meridianclub.co.uk/ip2026
17 St. James's Square, London SW1Y 4LB
+44 (0)20 7766 4920 — Principal Relations
Meridian Club Ventures Ltd. is authorised and regulated by the Financial Conduct Authority (Ref. 814270).
This document is issued to qualified investors only and does not constitute an offer to sell securities.
MC-IP-2026-V2.1  ·  Confidential  ·  Not for Onward Distribution  ·  Past performance is not a reliable indicator of future results.
Est. MMXXIV  ·  London
MC · 2026 Prospectus