Collateral Agent Services for a Market That Defies Convention | Kroll

Client Story

Beyond the Template: Collateral Agent Services for a Market That Defies Convention

Discover how Kroll's Agency and Trustee Services Team helped AMA Collects launch a private credit program with the institutional credibility, structural rigor and bespoke collateral framework that its unique market demands.

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When we evaluate new initiatives, Kroll will be our first call. We value their judgment, their insight and the confidence they bring to complex decisions.

Khalid Mateen, Managing Director, AMA Collects

The Challenge

AMA Collects operates in a specialized field, serving clients across collectible, gold and silver tangible asset markets. When AMA Collect’s Managing Director Khalid Mateen set out to launch a private credit offering, he faced a challenge that was as much about finding the right partner as it was about solving a structural problem. The initiative required institutional-grade collateral agent services, and the asset structures involved were genuinely complex, not the kind that fit neatly into the frameworks most providers were equipped to handle.

“AMA Collects’ creativity, market insight and ability to structure sophisticated solutions around unique assets set us apart. We do not think in conventional boxes; we think in possibilities,” said Mateen.

AMA's search for a collateral agent revealed a consistent gap in the market. Firms in this space largely operated within rigid, predefined processes and expected clients to adapt to them. For a business working with nonstandard asset classes and needing a partner willing to think creatively about structure, that approach simply was not fit for purpose. The stakes were high: Get the collateral framework wrong, and the entire program’s credibility with investors and stakeholders would be compromised before launch.

Kroll's Solution

Kroll's Agency and Trustee Services Team took a fundamentally different approach from the outset. Rather than presenting AMA with an off-the-shelf service model, Adam Raffa and Martin Reed invested time in understanding the business, its objectives and the structural nuances of its asset classes before proposing anything. The team worked alongside AMA to design a collateral framework tailored to achieve the best possible outcome, introducing efficiencies and structural considerations that the client had not previously identified.

“Many firms operate within rigid frameworks and expect you to adapt to their processes. Kroll took the opposite approach. Adam Raffa and Martin Reed provided a highly specialized and personal experience,” said Mateen. “It never felt transactional. It felt collaborative. Kroll made me feel that our business was their business. That mindset is rare, and it made all the difference.”

The engagement was characterized by a depth of partnership that set it apart from typical vendor relationships. Kroll approached the mandate as if the capital and the business were their own, offering options, elevating the overall structure and providing the kind of strategic thinking that goes well beyond transactional service delivery. For AMA, it was the quality of that thinking, and the responsiveness and trust that underpinned it, that made the difference.

The Impact

With Kroll's collateral framework in place, AMA Collects launched its private credit initiative with confidence. The program went to market with strengthened execution, improved risk management and structural integrity that has reinforced stakeholder trust in the platform. Kroll's involvement helped AMA avoid structural blind spots that could have undermined both performance and perception, and the efficiencies introduced during the engagement have had lasting operational benefits.

"Other firms often operate from a position of process compliance. Kroll operates from a position of shared outcome,” Mateen said. “They listen, they adapt and they think creatively. Rather than asking us to fit into a predefined structure, they worked alongside us to design a solution that achieved the best possible result.”

Beyond the mechanics of the transaction, the partnership has enhanced how AMA Collects is perceived in the market. Having Kroll alongside them signals quality, rigor and professionalism to investors and counterparties. In a space where credibility is hard-won, that association carries real commercial weight.

Mateen said, “We view this as the beginning of a long-term strategic relationship. As AMA continues to expand its offerings and deepen its footprint in the collectibles and alternative asset markets, we see Kroll as a key partner in helping us scale responsibly and intelligently.”

Planning a private credit launch or looking for a collateral agent that will work for your structure, not theirs? Talk to Kroll's Agency and Trustee Services Team.

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