Important: This website is for informational purposes only and does not constitute an offer of securities. Access is restricted to qualified and professional investors.
Qualified Investors Only Luxembourg Issuer

Structured Investment Programmes
Direct from the Issuer

Access institutional-grade structured deals issued by Excellium Securities S.A. — delivered directly to qualified investors, without the intermediary chain. Full documentation. Structural risk overview. Your own assessment.

Luxembourg
Governed & Issued
Direct
Issuer to Investor
ISIN
Registered Securities
Global
8 Cities · 4 Continents
Investment Highlights
Why First Circle Exists
Most structured investments pass through three or four hands before they reach you. First Circle is the short route — same issuer, same governance, delivered directly to a small group of qualified investors.

Direct Access

No placement agents, no intermediary chain. Deal memos arrive straight from the issuer the moment they're ready.

Luxembourg Governed

Every programme issued through Excellium Securities S.A. with ISIN registration, independent audit, and institutional governance.

Global Origination

Eight cities across four continents. The global footprint feeds the pipeline. The boutique culture protects the quality.

Structural Risk Overview

Each deal includes a structured overview of key risk dimensions, based on internal qualitative and quantitative inputs — to accompany the full documentation.

What's Coming
Deals currently being structured.
These are the sectors we're active in right now. When each programme completes structuring, the full deal memo goes directly to First Circle members. One deal at a time. No rush. No pressure. Just the opportunity to look at something most investors never see at this stage.
🏠

Social Housing Credit

UK social housing lease structures backed by registered housing associations. Government-supported demand, inflation-linked income.

Structuring Now
🚗

Luxury Auto Finance

Premium dealership inventory and receivables. Short duration, asset-backed, with established origination partners we've worked with for years.

Structuring Now
🏘

Hospitality & Revenue

Next-generation hospitality with data-driven pricing and occupancy optimisation. Revenue-based structures, asset-light positioning.

In Pipeline
💧

Water Infrastructure

Essential-service infrastructure — water treatment, distribution, storage. Long-duration, contracted revenue profiles.

In Pipeline
How It Works
We find the managers. We structure the deal.
You see it first.
The traditional route runs through four or five intermediaries before anything reaches you. First Circle has one step: issuer to investor.
01

Qualification

Confirm your qualified investor status to access deal documentation and schedule a consultation with our team.

02

Documentation

Receive the investment documents, Terms and Conditions, and complete KYC/AML verification with our appointed administrator.

03

Assessment

Review the opportunity on your own terms. Each deal includes a structural risk overview alongside the full documentation to support your independent analysis.

04

Subscription

If you proceed, onboarding is handled through our fund administrator with full KYC/AML verification. Direct subscription to the issuer.

Structural Overview
A structured snapshot
to accompany the documentation.
Each opportunity includes a preliminary overview of key risk dimensions, based on internal qualitative and quantitative inputs. Designed to summarise certain characteristics of the investment alongside the full documentation — not to replace it.
A
Illustrative Only
Manager Track RecordVintage consistency, loss ratios, operational tenure
Structural ProtectionCollateral quality, covenants, waterfall mechanics
Sector FundamentalsDemand dynamics, regulatory tailwinds, macro exposure
Liquidity & DurationExit profile, cash flow timing, reinvestment risk
Market TimingRate environment, capital cycle position, entry conditions
Who's Behind This
Not our first programme.
Our first private circle.
Excellium Securities S.A. has been structuring and issuing deals through institutional channels for years. First Circle opens that same pipeline — same issuer, same governance, same standards — directly to a small group of qualified investors.
0
Programmes
Issued to Date
0
Investor
Jurisdictions
0
Cities We
Operate In
0
Deals in
the Pipeline
Past performance is not indicative of future results. All figures relate to Excellium Securities S.A. and are independently verified.
WR
A Note

I built this because the process was broken — and I thought you'd agree.

I've spent years structuring deals with specialist managers across real assets, private credit, and infrastructure. The structuring is rigorous. The managers are exceptional. But by the time a deal reaches most investors through the traditional chain — placement agents, wealth managers, platforms — weeks have passed, three people have reinterpreted the information, and the opportunity looks nothing like what we originally built.

First Circle is the direct route. Same issuer. Same Luxembourg governance. Same institutional standards. But the deal memo comes straight from us, the moment it's ready, with nothing lost in translation. I keep this deliberately small — a private circle of investors who value substance over noise, and directness over process.

Every deal memo includes market context — sector signals, manager benchmarks, timing data — woven into the terms so you have the full picture. Every communication comes from me personally. Every manager is one I know. If you value discretion, directness, and access to deals at the point of origination, I'd welcome the chance to show you what we're working on.

William Rae
For Qualified Investors Only Luxembourg-domiciled issuer. Not available to retail investors.
Get Started

Qualified Investor
Access

Complete the qualification form to access investment documentation and deal memos. Our team will contact you within 24 hours.

Documentation Access

Investment memos, terms, and supporting documentation are available exclusively to verified qualified investors in accordance with applicable regulations.

Free. No obligation. No lock-in. Your information is shared only with our appointed fund administrator for KYC/AML verification purposes and is never sold to third parties.
Request Investor Access
Complete the form below to access deal documentation and investment memos. Our team reviews every application personally.
Encrypted. Shared only with our appointed administrator for KYC/AML verification. Never sold to third parties.

You're in.

I'll review your details personally and be in touch within 24 hours. If there's a deal in structuring right now, you'll be among the first to see it when it's ready.

— William Rae
Important Information

No offer or solicitation. Nothing on this website constitutes an offer to sell, or a solicitation of an offer to buy, any securities or financial instruments. This website provides general information about Excellium Securities S.A. and its activities. Any securities issued will only be offered to persons who have self-certified as qualifying investors in their jurisdiction, and only through separate offering documentation.

Capital at risk. Investments in securities involve risks, including the potential loss of the entire amount invested. Past performance of the issuer or any programme is not indicative of future results. You should not invest unless you are prepared to lose the entirety of your investment.

Not investment advice. The information on this website and in any materials provided through First Circle does not constitute investment, financial, tax, or legal advice. You should consult your own professional advisors before making any investment decision.

Regulatory status. Excellium Securities S.A. is a securitisation company incorporated in Luxembourg. First Circle is a trading name used by Excellium Securities S.A. for its direct investor information channel. This website has not been reviewed or approved by any financial regulatory authority.

Jurisdictional restrictions. The information on this website is not directed at, and is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would be contrary to local law or regulation.

Privacy Policy

This is the privacy policy of Excellium Securities S.A., a Luxembourg public limited liability company (société anonyme) and a securitisation company (société de titrisation) under the Luxembourg law on securitisation dated 22 March 2004, as amended, with registered office at 412 Rte d'Esch, 1471 Cessange Luxembourg, and registered with the Luxembourg Register of Commerce and Companies (R.C.S. Luxembourg) under number B290294.

This Policy explains how we collect, share, use, and protect your personal information when you access or use our website and/or related services. We are committed to protecting our users' personal information and being compliant with all data protection laws, including Regulation EU 2016/679 (GDPR).

Who We Are

Excellium Securities S.A. is the Data Controller of your personal information. As a Data Controller, we determine why and how we process your personal information. Personal information is any information relating to an identified or identifiable natural person.

Why We Collect Personal Data

We collect, use and disclose personal information to meet the needs of our users and our business relationship, including:

  • Daily management, operation and maintenance of our website and related services
  • Understanding your needs and providing relevant products or services
  • Administering and processing requests for information
  • Compliance with regulatory and legal obligations, including tax and reporting requirements
  • Contacting you in response to inquiries, to provide information about our services, or to investigate suspicious activities
  • Protecting our rights and property

Purpose and Legal Basis for Processing

PurposeLegal Basis
Providing and operating our websiteLegitimate interest in providing online content
Improving user experienceLegitimate interest in providing a well-functioning site
Promoting security of our siteLegitimate interest in safety and protecting rights
Sending communicationsLegitimate interest with prior consent
Handling contact and support requestsPerformance of a contract / legitimate interest
Providing and administering servicesPerformance of a contract
Managing paymentsPerformance of a contract
Complying with legal obligationsLegal obligation / legitimate interest
Financial reportingLegitimate interest in meeting reporting obligations
Maintaining our own securityLegitimate interest in fraud prevention

Personal Information We Collect

If you are an actual or potential user, we may collect:

  • Name, address and contact details
  • Date of birth and gender
  • Profession and employment details
  • Information about your income and wealth, including assets and liabilities
  • Information about balances, trading statements, and financial statements
  • Any information required for Know Your Customer or Anti-Money Laundering purposes

Who We May Disclose Your Information To

  • Other companies within our group or regulated partners providing back office services
  • Service providers and advisers providing administrative, IT, financial, regulatory, compliance or other services
  • Credit providers, courts, tribunals and applicable regulatory authorities
  • Anyone authorised by you

We require that organisations handling personal information acknowledge its confidentiality and comply with all relevant data protection laws.

Your Consent

Where our use of your personal information requires your consent, such consent will be provided using a consent form or any contract entered into with you. You have the right to withdraw consent at any time by contacting us.

How We Store Personal Information

We hold personal information in secure computer storage facilities, cloud servers, and paper-based files. We take steps to protect personal information from misuse, loss, unauthorised access, modification or disclosure. Subject to Anti-Money Laundering laws, we may retain records for at least five years after our business relationship has ended, and contracts for up to 10 years.

Transfers Outside the European Economic Area

We may transfer personal information outside the EEA to processors engaged on our behalf. We ensure that any such transfer is lawful with appropriate security arrangements, including standard contractual clauses adopted by the European Commission.

Your Rights Under GDPR

In accordance with the GDPR, you have the right to:

  • Request access to your personal information
  • Request correction of incomplete or inaccurate information
  • Request erasure of your personal information
  • Object to processing based on legitimate interest
  • Request restriction of processing
  • Withdraw prior consent to processing
  • Object to decisions based solely on automated processing

Cookies

We use cookies to provide a more relevant and effective experience. Cookies are text files saved by your browser that allow servers and webpages to be identified with your particular browser.

Complaints

If you have a concern about any aspect of our privacy practices, you can make a complaint which will be acted upon promptly. If you are not satisfied with our response, you have the right to lodge a complaint with the National Commission for Data Protection (CNPD) at cnpd.public.lu or by calling (+352) 26 10 60-1.

How to Contact Us

If you have any questions about this Privacy Policy or want to exercise your rights, please contact us by email at support@excellium-securities.com or by writing to our registered address: 412 Rte d'Esch, 1471 Cessange Luxembourg.

Last updated: 09 January 2025