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Pascal Hernalsteen
Sections
Engagement Mode IV

GTM
30 · 60 · 100

  • European market entry for fund-services firms
  • The diagnostic that corrects the competitor map
  • Strategy validated with the board
  • Buy or build, launch-ready
Day 1–30 · Diagnose→Day 31–60 · Define→Day 61–100 · Launch→
Phase 01
30
DAYS

Diagnose.

Understand where the firm truly stands before deciding where it goes.

Capabilities

  • Validate the genuine differentiators: hybrid, evergreen, retail structures
  • Test whether they hold against European incumbents
  • Build the differentiation grid

Competition

  • Map the real competitive set, not the assumed one
  • The threat is global players, not boutique home-market peers
  • Strengths and weaknesses matrix per player

Customers

  • Analyse client flows and parallel US–EU structures
  • Identify the at-risk accounts
  • Quantify cross-border demand

Regulatory & posture

  • Map licences, depositary and AIFM requirements
  • Test offensive land-grab vs. defence of the home franchise
Deliverable
Day-30 diagnostic: corrected competitor map, capabilities grid, client-flow analysis, regulatory mapping.
PASCAL HERNALSTEEN · OPERATING PARTNERGTM · DAY 1–30
Phase 02
60
DAYS

Define.

Convert the diagnostic into a small set of explicit strategic axes.

Service scope

  • Fund administration only, no one-stop-shop
  • Depositary and AIFM delivered through partnerships
  • State explicitly what is not offered

Specialisation

  • Hybrid, evergreen and retail structures
  • A high-growth segment few European providers master

Target market

  • Mid-size managers: under-served, less contested
  • Exclusion criteria for tier-one multi-sourcers

Operating model

  • Compete on quality through technology, not offshoring
  • Integration and automation: faster, more accurate, cheaper
Deliverable
Strategy paper validated with the board: positioning, scope, partnership model, target client definition.
PASCAL HERNALSTEEN · OPERATING PARTNERGTM · DAY 31–60
Phase 03
100
DAYS

Launch.

Decide the entry vehicle and prepare the commercial engine.

Buy

  • Screen the few acquirable targets
  • Test infrastructure fit against the strategy
  • Budget integration effort realistically

Build

  • Jurisdiction and licence path
  • An entity built exactly to the strategy, no legacy

Business case

  • Investment, break-even, 3-year revenue plan
  • Implementation roadmap with real effort estimates

Commercial engine

  • Licensing time is commercial preparation time
  • Priced catalogue and target prospect list
  • First proposals issued before go-live
Deliverable
Buy-vs-build decision memo + commercial launch kit: regulatory day one is commercial day one.
PASCAL HERNALSTEEN · OPERATING PARTNERGTM · DAY 61–100