Where vision
aligns with
capital
Strategic advisory and capital formation for specialist real asset strategies and emerging managers
Halkum Capital Advisors is a boutique advisory firm focused on partnering with high-conviction investment managers to help them secure institutional capital, build strategic partnerships, and scale differentiated investment platforms.
OUR EXPERTISE
We connect our managers with pension funds, insurance companies, consultants, and family offices seeking access to specialist investment strategies.
What We Do
Many of the most compelling investment opportunities come from smaller and focused teams with deep sector expertise and clear conviction. We help these managers translate their investment ideas into institutional-quality platforms capable of attracting long-term capital.
Capital Formation
Raising capital from aligned institutional investors and long-term capital partners. We support: first-time fund launches, specialist investment strategies and specific projects.
Recapitalisations & Continuation strategies
Advising on recapitalisation and continuation structures that enable successful strategies to extend their lifecycle, unlock additional value, and continue growing with aligned capital support.
Strategic Advisory
Supporting managers through key stages of growth. We help clients refine their positioning, structure partnerships, and design capital strategies that align with long-term investment goals. This includes: long-term platform growth strategy and capital strategy
Programmatic JVs and platforms
Designing structured partnerships that enable investment managers and capital partners to scale their strategies efficiently over time. These collaborations provide a repeatable framework for deploying capital, aligning long-term interests, and pursuing opportunities together at scale.
WHY US
A focused, relationship-driven approach
Halkum Capital Advisors operates as an independent platform built on 20+ years of established relationships and deep sector knowledge.
Selectivity
We work with a limited number of managers where we have strong conviction.
Alignment
Our interests are aligned with our clients through success-based structures.
Experience
Decades of experience across institutional real asset investment platforms.
Access
Established relationships with a broad network of capital partners.
FOUNDER
Ljiljana Macdonald, PhD
Experience And Outstanding Track Record
Ljiljana has over 20 years of experience across global real asset investment platforms. During her career she has held senior roles at UBS Global Asset Management, Savills Investment Management, Aviva Investors, Alpha Real Capital and Optimum Asset Management. Her experience spans fund investment, portfolio development, investment strategy and capital raising, giving her a broad perspective across both the investment manager and institutional investor sides of the market.
Ljiljana holds a PhD from the London School of Economics.
”Ljiljana is one of the most effective partners I have worked with. With deep experience across different return profiles and complex transactions, she has a rare ability to cut through the noise and focus on what truly matters. Her approach is firmly rooted in quality over quantity – ensuring that every investor interaction is relevant and well-founded.
She takes the time to thoroughly understand the product, the strategy and the organisation, and leverages long-standing relationships to connect with the right investors. Ljiljana was instrumental in the recapitalisation of two of our portoflios, contributing across the entire process – from shaping the messaging and investment narrative to engaging the right counterparties and helping bring transactions to completion.
Direct, thoughtful and highly professional, she combines strong execution capabilities with an ability to build lasting relationships. A true partner and a pleasure to work with.
David Krook, CFAHead of IR and Business Development, SBF Fonder
Our Clients
