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Revision as of 14:00, 31 May 2020
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| Company type | Limited company |
|---|---|
| Founded | London, United Kingdom (2006) |
| Founders | Davide Serra and Eric Halet |
| Headquarters | |
Number of locations | 6: London; Singapore; Boston; Milan; Luxembourg; Tokyo |
Algebris (UK) Limited[1] is a London-based asset management company which has historically specialized in the global financial sector.[2] In December 2010 it managed $1.4 billion in funds.[3] In December 2018 Algebris manages over $12bn in assets under management.[4]
Algebris was founded by Davide Serra (from Genoa), a former analyst with Morgan Stanley and Eric Halet.[2] Davide Serra owns outright the firm. It has offices in London, Singapore, Boston, Milan, Luxembourg and Tokyo.[5]
Algebris (UK) Limited is authorised and regulated by the Financial Conduct Authority.[6] Algebris Investments (US) Inc is a SEC registered Investment Adviser.[7] Algebris Investments (Asia) Pte. Ltd is a Licensed Fund Management Company with the MAS.[8]
The first fund, Algebris Global Financials Fund, was launched in October 2006.
Historically, Algebris has focused on bank shares and, shortly after 2008, started to seek value primarily in the tier-1 and 2 debt structures of global systemically important financial institutions.[9] Algebris has posted a 9 per cent compound annual return net of fees since 2006 on the $600m it has invested on the equity side. On the financial credit side, which in November 2017[10] counts for $7.4bn of the firm’s assets under management, including bad loans at face value, the firm has earned 15 per cent annual net returns since it switched its emphasis to financial credit after the 2008 crisis.
Alongside subordinated debt and financial equity, the fund has extended into non-performing loans in 2014,[11] a global macro strategy in 2016[12] investing also outside of financials. In 2017[13] Algebris launched a fund focused on credit and equity securities of mostly midsized Italian companies.[13]
In June 2018, Algebris Investments launched an “end of the world fund” pitched as a solution to the nagging fears of institutional investors that another financial-market meltdown or crisis might be overdue.[14]
References
- ^ ALGEBRIS (UK) LIMITED
- ^ a b "Davide Serra - Algebris".
- ^ Ismail, Netty (7 December 2010). "Algebris Plans Hedge Funds Betting on Banks' CoCos Debt, Emerging Markets". Bloomberg. Retrieved 28 November 2012.
- ^ Algebris’ Serra gives Italy’s weakest links a year to fail
- ^ https://asia.nikkei.com/Business/Business-Trends/Tokyo-lures-in-overseas-hedge-funds-and-fintech
- ^ Algebris in the Financial Services Register
- ^ Algebris on the U.S. Securities and Exchange Commission site
- ^ Algebris on the Monetary Authority of Singapore site
- ^ Western Europe: European banking’s behind-the-scenes activist
- ^ Davide Serra: ‘I have an Italian heart but a British brain’
- ^ "Italian bad loans draw hedge fund interest". Archived from the original on 2016-12-18. Retrieved 2018-05-15.
- ^ Serra's Algebris Launches New Macro Credit Fund
- ^ a b Bollettino Morningstar - Speciale Pir
- ^ "Algebris has launched an "end of the world" fund". ftalphaville.ft.com. Retrieved 2019-07-05.