April 30, 2026
Founding Partner · Tactical Management
Dr. Raphael Nagel (LL.M.)
Most people talk. Some write.
Very few allocate capital, and live with the consequences.
Founding Partner · Tactical Management
Dr. Raphael Nagel (LL.M.)
Most people talk. Some write.
Very few allocate capital, and live with the consequences.
Executive Assistant:+49 711 8494 1052
Editor's pick
April 30, 2026
The Succession Economy: Why Europe's Next Decade Will Be Defined by Mittelstand Transfers
More than 100,000 family businesses in the DACH region will change ownership by 2030. This is not a crisis — it is the largest wealth-transfer opportunity in European private equity history. The question is who will be positioned to receive it.
Read the essay →Recent essays
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EU AI Act and Private Equity: What Every Portfolio Company Must Know Before 2026
April 28, 2026
Sicherheitsroboter aus Baden-Württemberg – Lösung für den Fachkräftemangel?
April 28, 2026
Europa ya ha perdido el Golfo de Guinea
April 25, 2026
Texas, February 2021: Anatomy of an Energy Shock and the Fragility of Modern States
April 25, 2026
Taiwan: 98% Import Dependence and the Silicon Deterrent
Five blocks
30+ books
All books →capital
Kapital
Markets, mandates, value creation.
leadership
Haltung
Posture, authority, leadership.
geopolitics
Pipelines
Energy, sovereignty, trade.
technology
Algorithmus
AI liability and the new code of law.
capital
Execute
From plan to operating cadence.
security
Der unsichtbare Krieg
Sanctions, cyber, dual-use, the architecture of grey conflict.
About
An investor who writes, because capital is also an argument.
Dr. Raphael Nagel (LL.M.) is Founding Partner at Tactical Management, a private investment firm focused on operational carve-outs, succession capital for the European Mittelstand, and sovereign-grade infrastructure across security, energy, and AI.
More than 30 published books, in German, English, and Spanish, anchor a body of public writing that runs from market microstructure to AI liability to the geopolitics of pipelines. The essays here continue that record in long form.
He writes from Madrid and the field, with the bias of a practitioner.