KPMG were delighted to bring together members of the Guernsey funds and advisory community for a timely discussion on the growing intersection between geopolitics, defence, technology and energy investment. A clear theme emerged from our session:
Overview of our event
Geopolitics is no longer a background risk, it is now a defining force shaping capital allocation, investment strategy and governance.
In today’s environment, persistent geopolitical fragmentation, evolving security priorities and state-led industrial policy are fundamentally reshaping markets. Our speakers explored how this is driving a structural shift in where capital is flowing, with particular momentum in defence technology, energy security and resilience-focused infrastructure.
The key focus of our session was exploring the rise of dual‑use technologies, innovations that have both civilian and defence applications, particularly in areas such as AI, autonomy, data platforms and advanced manufacturing. These technologies are increasingly attracting investor interest, underpinned by strong demand from both commercial markets and government procurement.
Our session explored how this convergence between defence, technology and energy is creating new and complex investment opportunities, but also raising important questions for boards, investors and advisers. These include:-
- how to assess risk in rapidly evolving sectors
- how to navigate regulatory and ethical considerations
- and how to ensure governance frameworks remain robust and fit for purpose
A consistent message from the discussion was the need to move beyond reactive approaches to geopolitical risk, and instead adopt more structured, forward-looking and resilience-focused strategies.
We were proud to be joined by experts who brought deep insight into both the geopolitical context and the investment landscape, helping to demystify what these themes mean in practice for today’s market participants.
The strong engagement from across the Guernsey community reflects the increasing relevance of these topics locally, as the island continues to play a key role in structuring and supporting innovative investment strategies.
Navigating geopolitics & investment into Defence technology & Energy security Presentation
Bios of our speakers
Dermot Dempsey, Sarah Hume and Rachid Frihmat were delighted to be joined by a fantastic external lineup.
Dr. Benedikt Herles - Co-Lead Competence Center Geopolitics & Defence, KPMG Germany
Co‑Lead of KPMG’s Geopolitics & Defence Competence Centre, Benedikt advises senior leaders on how geopolitical developments are reshaping markets, regulation and investment across Europe.
With over 15 years’ experience spanning strategy consulting, geopolitical risk analysis and investment, Benedikt supports organisations in strengthening resilience, managing uncertainty and identifying opportunity at the intersection of politics, economics, technology and sustainability. A regular speaker at international forums and a trusted commentator on geopolitical and macro‑economic trends, he brings a pragmatic, business‑focused perspective on how companies can navigate disruption and make informed strategic decisions in an evolving European landscape.
Anita McBain - Expert sell-side research analyst in sustainability, defence tech, climate & security
Anita McBain is a senior sell-side research analyst and currently sits on King’s College London £300M endowment fund subcommittee. She’s also a consulting partner at Linden Park and an independent research analyst working at the intersection of defence technology, climate and security. Her research focuses on need to adopt a forward-looking approach that delivers on security, resilience and defence.
In her previous role as Managing Director at Citigroup she built and led a global sustainable investment research franchise. She’s recognised for a report published on 1-Feb-2022, ahead of the invasion of Ukraine, to revisit the negative consensus on defence and led her team to win numerous awards during her tenure at Citi across climate adaptation, biodiversity loss and antimicrobial resistance.
Matthew Brehaut - Partner, Carey Olsen
Matthew is a partner in the corporate team in Carey Olsen’s London office. He advises on corporate and investment funds matters, with particular experience in the structuring and launch of investment funds. Matt provides funds, fund service providers and fund promoters with advice on all aspects of the establishment, regulation and operation of investment funds.
Matthew recently hosted a seminar at the Guernsey Funds forum which explored the growth of defence-focused funds and considered how Guernsey can support managers launch of new vehicles.
Matt Chick - Director, Aztec Group
Matt oversees a number of client relationships teams and the provision of administration, accounting and other outsourcing services to a portfolio of private equity and venture capital clients. He also serves as a non-executive director on many of his clients’ boards.
As a member of our leadership team in Guernsey, Matt also plays a key role in the ongoing development, management and growth of our Guernsey office.
