Report

Resilient returns: investing in defense

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Published Date
Jun 23 2026

The focus on defense resilience is creating a powerful new investment cycle, with governments globally looking for new ways to mobilize private investment. But this is not a conventional market: complex regulation, intense political oversight and challenging deal dynamics demand a fundamentally different approach from investors.

Summary

Recent increases in NATO spending commitments are creating huge demand for private investment in the defense supply chain.

Despite clear policy encouragement, the sector remains complex due to strict regulations, compliance obligations and the heavy degree of government involvement, requiring investors to adopt a tailored approach.

In this report we explore the key considerations for deal teams, from navigating foreign direct investment screening regimes to handling classified information and exiting their investments via the public markets.

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Resilient returns: investing in defense

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Small clear orb under larger circle

Private capital

Resilient returns: how drive for defense autonomy is creating demand for private capital investment

Article

Dive into the report

The articles below each examine a different angle for private capital providers looking to enter the defense supply chain. You can read them individually or download the collection via the link above.

Two interlinking rings with five spheres inside

Private capital

What defense investors need to know about FDI and antitrust screening regimes

Article

Person unlocking with fingerprint scan using biometrics

Private capital

Presence of classified information imposes constraints on defense deal execution

Article

Empty futuristic modern tunnel in the dark

Private capital

Amid rising interest in defense, IPOs are an increasingly viable exit route for investors

Article

Two spheres balancing on interlocked circles

Private capital

Dual-use technologies offer attractive defense entry point for private capital firms

Article

Man looking into many mirrors

Private capital

Why diligencing compliance processes is critical in defense and dual-use investments

Article

3D Rendering of Sphere Blocks in cube shape, in a row

Private capital

Upscaling production and investment in the Netherlands

Article

Report authors

This report was developed by attorneys across our private capital team. You can find links to their profiles below. 

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