Private Credit · South-East Asia · By invitation

Private credit for the under-served champions of South-East Asia.

Yponomos Direct originates and structures secured debt for revenue-generating SMEs in Thailand, Singapore, Hong Kong and Cambodia — the profitable, well-managed businesses that fall through the cracks of tightening bank credit.

Reserved for qualified, sophisticated and professional investors · By reverse inquiry only

A credit gap is opening across South-East Asia.

Across Thailand and the broader region, formal-sector unemployment is edging up, real wages are eroding, and household deleveraging is being driven by constraint rather than choice. Banks are tightening lending criteria, particularly on small and mid-sized enterprises.

At the same time, thousands of well-run SMEs with genuine revenue, solid collateral and legitimate growth plans are being turned away — not because they are risky, but because they no longer fit inside the increasingly narrow bank credit box.

This is where Yponomos Direct steps in. We originate, structure and syndicate secured private credit facilities to these businesses, on terms that are fair for both sides — competitive versus informal alternatives, and attractive versus the low-yield fixed-income landscape available to our members.

USD 500k – 3M
Typical facility size
24 – 60 mo
Maturity, monthly amortising
4
Core jurisdictions: TH · SG · HK · KH
First rank
Secured collateral & UBO guarantees

Institutional discipline, boutique execution.

01

Original sourcing

We source directly from our in-region network of founders, family offices, professional services firms and referral partners. No brokered dealflow.

02

Rigorous underwriting

Full audited financials, on-site visits, background checks, independent valuations and personal-guarantee interviews. Every file goes through a triple sign-off.

03

Cross-border structuring

Each facility is structured through a bankruptcy-remote Special Purpose Vehicle, secured by first-ranking pledges and supported by a HK holding intermediary for tax-treaty efficiency.

04

Aligned economics

Investors receive monthly cash coupons. Yponomos Direct earns primarily at success — aligning our upside directly with the performance of every facility we bring to the community.

05

Community-first

Our members are treated as partners, not as a distribution list. We share our underwriting notes, hold quarterly briefings, and welcome challenge on every deal.

06

Full transparency

Every deal comes with an information memorandum, full financial file, security package summary and independent legal opinion — before a single euro is committed.

The kind of businesses we finance.

A selection of recent transactions from our co-origination network. These illustrate the borrower profile, the underlying business quality and the type of use-of-proceeds that our approach favours. Full financial terms are shared with community members under NDA.

Consumer services · Paris region · 5th deal with sponsor

Blanchisserie de Paris

Premium linen management for luxury hospitality and healthcare.

Founded in 2014 and certified "Entreprise à mission", Blanchisserie de Paris operates a differentiated premium laundry service for 4 and 5-star hotels, Michelin-starred restaurants and the medical sector.

Unlike large industrial competitors, the group offers dedicated, non-mutualised linen handling, backed by a strong environmental commitment: 40°C washing, Ecolab-certified products and very low water consumption.

The business recently signed more than 50 new contracts with international brands (Radisson, Marriott, Hilton, Pullman), securing a substantial recurring revenue base of several million euros per year. The facility supports the ramp-up of the group's third and largest production site (7,350 m² in Grigny).

Sector Premium B2B services
Vintage Founded 2014
Use of proceeds Capacity expansion
Repeat borrower Yes — track record intact
Industrial technology · Marseille · 90% international revenue

Enogia

Micro-turbomachines for industrial waste-heat-to-electricity.

Founded in 2009 by two Arts et Métiers ParisTech engineers, Enogia designs and manufactures Organic Rankine Cycle (ORC) modules that convert industrial waste heat into decarbonised electricity — a fast-growing global segment.

The company has installed more than 200 modules across 25+ countries, with over 90% of its revenue generated internationally. It has recently returned to profitability on the back of a strong commercial acceleration, with revenue up 57% year-on-year and a record order book.

Enogia is also rolling out an "Energy as a Service" model that generates recurring revenue by financing the equipment directly with its clients. The facility supports the group's international expansion under its "Turbo 2028" strategic plan.

Sector Cleantech / industrial equipment
Vintage Founded 2009
Use of proceeds International expansion
Growth Revenue +57% YoY, record backlog
Diversified holding · France & La Réunion · 90 M€+ assets

Groupe Origyn

A family-owned, three-pillar holding: food retail, hospitality and real estate.

Founded in 2007 by Yann Le Febvre, the Origyn Group is a multi-sector holding built around three complementary pillars: food retail (two Système U supermarkets in the Paris region), hospitality (8 hotels and 7 restaurants in La Réunion, plus a Relais & Châteaux property in Saint-Paul-de-Vence and three Parisian restaurants), and a proprietary real estate portfolio.

The group also holds equity stakes in CBO Territoria (listed real estate) and Corsair Airlines, giving it both cash-generative operating assets and long-term patrimonial value.

Consolidated revenue is expected at around 47.8 M€ in 2025, with EBITDA of 6.3 M€ and consolidated assets in excess of 90 M€. The facility supported the buy-out of minority shareholders in the hospitality subsidiary.

Sector Diversified holding
Vintage Founded 2007
Use of proceeds Minority shareholder buy-out
Assets 90 M€+ consolidated

These transactions are shown for illustrative purposes only. They do not represent past performance of Yponomos Direct and are not an offer to invest. Actual terms of any facility made available to the community are disclosed to members only, after signed access documentation.

A discreet, three-step onboarding.

1

Request access

Submit a brief expression of interest below. We will confirm receipt within one business day and, if there is fit, arrange an introductory conversation.

2

Sign the access package

Once approved, we send a compact package tailored to your jurisdiction: an NDA, a reverse-inquiry acknowledgement, a qualified-investor declaration, and a risk acknowledgement. All signed electronically in one session.

3

Join the community

You gain access to our members' newsletter, our deal notes, and every future deal offered to the community — with no obligation to subscribe to any of them.

A partnership of operators.

Yponomos Direct is led by three founding partners with more than sixty years of combined experience in M&A, structuring, cross-border operations and asset management across Europe and South-East Asia.

Jean-Baptiste Couty

Founding Partner · Bangkok

Twenty-plus years of cross-border M&A and structuring, with a focus on France, Luxembourg, Thailand and the wider ASEAN region. Founder of JBM International.

Benoît Meneau

Founding Partner · London & Bangkok

M&A advisor and operator with a long track record in mid-market transactions in Europe and Asia. Founding Partner of Yponomos Capital LLP (London).

Vincent Serre

Founding Partner · Bangkok

Big Four alumnus and long-standing operator in Thailand and the region. Deep network among family offices, entrepreneurs and institutional partners in South-East Asia.

Yponomos Direct is an initiative of MCS Advisory Group, a private-market advisory and structuring firm operating between Europe and South-East Asia.

The essentials, clearly answered.

Who is Yponomos Direct for?

Yponomos Direct is reserved for qualified, professional and sophisticated investors as defined in their jurisdiction of residence — for example, Professional Investors under Schedule 1 of the Hong Kong Securities and Futures Ordinance, Accredited Investors under Section 4A of the Singapore Securities and Futures Act, High-Net-Worth Investors under Thai SEC regulations, and their equivalents in Cambodia and Europe. We do not accept retail investors.

What is the minimum investment ticket?

The minimum indicative subscription per deal is USD 10,000. Individual deals may set a higher floor depending on the transaction size and the sponsor's requirements.

How are the deals structured?

Each deal is structured through a bankruptcy-remote Special Purpose Vehicle (SPV) incorporated in Luxembourg and administered by our regulated platform partner. The SPV extends a secured facility, typically through a Hong Kong holding intermediary for tax-treaty efficiency, to the ultimate borrower in the target jurisdiction. Every facility is secured by first-ranking collateral, personal guarantees from the ultimate beneficial owners, and standard financial covenants.

How does Yponomos Direct make money?

Our economics are primarily success-based. We charge the borrower an arrangement fee upon closing and a small ongoing management fee, both paid out of the facility. We may retain a share of the excess return above a preferred hurdle when relevant. We are not compensated on a marketing-fee basis by any third party.

What happens if a borrower defaults?

Every facility is fully secured. In the event of a default, the security package — first-ranking pledges over shares and assets, account control over the borrower's main operating accounts, and personal guarantees of the UBOs — allows the SPV to step in and pursue recovery. We have retained specialist counsel in each of our target jurisdictions and, where relevant, dedicated workout capacity.

Is Yponomos Direct regulated?

Yponomos Direct itself is an advisory and origination initiative, not a licensed asset manager. Each Special Purpose Vehicle used to hold a facility is administered by a regulated platform partner in Europe. All investor subscriptions are structured as private placements to qualified investors on a strict reverse-inquiry basis. We do not conduct public marketing.

What geographies do you focus on?

Our current focus is on Thailand, Singapore, Hong Kong and Cambodia, with occasional selective exposure to European businesses through our co-origination network. We do not finance real-estate development, pure retail speculation, cryptocurrency or arms.

What sectors do you finance?

Preferred sectors include established food and beverage chains, healthcare and dental groups, private education, light industrial and manufacturing, B2B services with recurring revenue, consumer brands with proven traction, and logistics. We generally avoid single-outlet businesses, speculative real estate, extractive industries and any activity that raises reputational concerns.

Can I invest through a company or a family trust?

Yes. We accept subscriptions from qualified corporate entities, family investment companies, family trusts and family offices. Standard know-your- business documentation will apply during onboarding.

How does Yponomos Direct relate to MCS Advisory Group?

Yponomos Direct is an initiative of MCS Advisory Group, a private- markets advisory and structuring firm operating between Europe and South-East Asia. MCS Advisory Group provides the operational, legal and administrative backbone behind the Yponomos Direct brand.

What documents will I need to sign to join?

Once your access is approved, you will be sent a compact digital package containing a mutual non-disclosure agreement, a reverse-inquiry acknowledgement, a qualified- investor status declaration, a privacy notice, and a universal risk acknowledgement. Signing is done in one session via a standard e-signature tool.

Am I committing anything by joining?

No. Joining the community places no obligation on you to subscribe to any deal, ever. You simply become eligible to receive our newsletter and to be invited to review future opportunities, on which you decide freely and independently.

Ready to discover the community?

Please submit the short form below. We treat every request confidentially and will come back to you within one business day.

By submitting this form you agree that we may store the information provided for the sole purpose of assessing your access request and, if approved, communicating with you about the Yponomos Direct community.

Reach out directly.

If you'd rather ask a question before requesting access, send us a note and we will respond personally.

Or write to us directly at csereysophea@mcsadvisorygroup.com.