CHAIRMAN’S LETTER 2025
Building a 100-Year Global Empire
To partners and counterparties,
MIHG has always been built on a simple idea: private capital, deployed quietly and at scale, can occupy the same strategic ground that sovereign funds and state actors traditionally reserve for themselves. As we close 2025, that idea has not changed. What has changed is the scale of the platform and the complexity of the world around it.
Today, MIHG oversees approximately USD 53 billion across real assets, digital infrastructure, private equity, aviation, commodities, and venture. We have compounded through multiple shocks — a pandemic, rate cycles, energy dislocations, and geopolitical fractures — not by predicting headlines but by building a structure that does not depend on any single country, currency, institution, or narrative. Performance is important; survivability is non-negotiable.
The pillars of the portfolio remain clear. Real estate and physical infrastructure provide contracted cash flows and hard-asset ballast. Digital infrastructure, data and logistics platforms give us exposure to the rails of the modern economy. Private equity and strategic buyouts allow us to take control in sectors where passive capital is not enough. Commodities and reserves protect the sovereignty of the whole architecture. Venture provides a high-velocity option on the future without dictating the character of the platform.
Silence, scale, and sovereignty are not slogans. Silence means that MIHG does not manage the news cycle or social media. Scale means we enter sectors and positions where we can matter, not simply participate. Sovereignty means we are structurally difficult to corner — financially, geographically, and operationally. These are the guardrails that protect us from our own ambition.
Over the next decade, three themes will command increasing attention. The first is green infrastructure: grid-scale storage, transmission upgrades, distributed generation, and efficiency technologies. The second is AI-driven networks that move information, decisions, and value across borders. The third is strategic reserves, whether in energy, metals, or food. Taken together, these three domains will define where power sits in the global system. MIHG intends to be embedded in the assets and platforms that others quietly depend on.
Governance and risk remain central. MIHG continues to operate with a small, elite executive team, with clear lines of responsibility and no tolerance for complacency. The internal 20% rule — that no single country should control more than 20% of our future — guides how we allocate exposure across hubs, entities and counterparties. Liquidity buffers, reserve layers and unencumbered assets are treated as strategic weapons, not idle balance sheet entries.
My ambition is not to build the loudest platform, but the most durable one. MIHG should be able to survive my own absence, any single political shift and more than one economic cycle. The test of this platform will not be its profile in 2025; it will be its relevance in 2050 and beyond. Everything we are doing today — from reinforcing the core pillars to expanding into green technologies and AI networks — is designed with that century-scale horizon in mind.
To the people and institutions who have chosen to work with us, quietly and without fanfare, thank you. You will rarely see MIHG on a stage, but you will see our footprints in the assets, platforms and reserves that matter. That is, and will remain, the only kind of visibility we are interested in.