Algebris

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Algebris (UK) Limited
TypeLimited company
FoundedLondon, United Kingdom (2006)
FoundersDavide Serra and Eric Halet
Headquarters
London, W1
United Kingdom
Number of locations
6: London; Singapore; Boston; Milan; Luxembourg; Tokyo

Algebris (UK) Limited[1] is an asset management company which has historically specialized in the global financial sector.[2] In December 2018 Algebris manages over $12bn in assets under management.[3] Serra, founder and CEO,[4] owns outright the firm.

Algebris (UK) Limited is authorised and regulated by the Financial Conduct Authority[5] and operates in Italy through its Milan branch. Algebris Investments (US) Inc is a SEC registered Investment Adviser.[6] Algebris Investments (Asia) Pte. Ltd is a Licensed Fund Management Company with the MAS.[7] Algebris Investments K.K.is licensed by Financial Services Agency.[8] Algebris Investments S.à.r.l. is authorised and supervised by the CSSF.

It has offices in London, Milan, Rome, Luxembourg, Dublin, Boston, Singapore, and Tokyo.[9]

History[]

Algebris was founded in 2006 by Davide Serra (from Genoa), a former analyst with Morgan Stanley and Eric Halet.[2]
The first fund, Algebris Global Financials Fund, was launched in October 2006. During the first year the fund grew from $700m to around $2bn managed[10]

Activities[]

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.[11] 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.

In November 2012 Financial Times highlighted Algebris Financial CoCo Fund as one of the most profitable in London. [12]

On the financial credit side, which in November 2017[13] 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,[14] a global macro strategy in 2016[15] investing also outside of financials. In 2017[16] Algebris launched a fund focused on credit and equity securities of mostly midsized Italian companies.[16]

Sustainable development goals[]

Algebris became a UNPRI signatory on 23 July 2019. [17]
In 2019 Algebris put into action a carbon off-setting project, aimed at achieving carbon neutrality across the Group by planting 25,000 trees and committing to 20 trees per employee annually. This is being carried out in Tanzania,[18] in collaboration with Hakuna Matata, a registered UK charity founded by Serra. [19]

See also[]

References[]

  1. ^ ALGEBRIS (UK) LIMITED
  2. ^ a b "Davide Serra - Algebris".
  3. ^ Algebris’ Serra gives Italy’s weakest links a year to fail
  4. ^ [1]
  5. ^ Algebris in the Financial Services Register
  6. ^ Algebris on the U.S. Securities and Exchange Commission site
  7. ^ Algebris on the Monetary Authority of Singapore site
  8. ^ FSA's Financial Instruments Business Operators
  9. ^ Tokyo lures in overseas hedge funds and fintech
  10. ^ Giorgio Dell'Arti, Massimo Parrini, Catalogo dei viventi 2009, Venezia, Marsilio Editori, 2008, ISBN 978-88-317-9599-9
  11. ^ Western Europe: European banking’s behind-the-scenes activist
  12. ^ Algebris coco fund swells
  13. ^ Davide Serra: ‘I have an Italian heart but a British brain’
  14. ^ "Italian bad loans draw hedge fund interest". Archived from the original on 2016-12-18. Retrieved 2018-05-15.
  15. ^ Serra's Algebris Launches New Macro Credit Fund
  16. ^ a b Bollettino Morningstar - Speciale Pir
  17. ^ PRI - Signatory directory
  18. ^ Algebris vows to achieve carbon neutrality and launches coal off-setting project
  19. ^ Hakuna Matata website
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