Algebris

History

Algebris was founded in 2006 by Davide Serra (from Genoa), a former analyst with Morgan Stanley and Eric Halet. Historically, Algebris 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. In November 2012, the Financial Times highlighted Algebris Financial CoCo Fund as one of the most profitable in London.

On the financial credit side, which in November 2017 counted for $7.4 billion 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, a global macro strategy in 2016 investing also outside of financials.

In 2017 Algebris launched a fund focused on credit and equity securities of mostly midsized Italian companies. In February 2021, Algebris announced the launch of a team, led by Valerio Camerano, dedicated to investable solutions in the green transition. In October 2021 Algebris managed over $18 billion in assets under management. Algebris has posted a 9 percent compound annual return net of fees since 2006 on the $600 million it has invested on the equity side.

Licenses and offices

Algebris (UK) Limited is authorised and regulated by the Financial Conduct Authority and operates in Italy through its Milan branch. Algebris Investments (US) Inc is a SEC registered Investment Adviser. Algebris Investments (Asia) Pte. Ltd is a Licensed Fund Management Company with the MAS. Algebris Investments K.K.is licensed by Financial Services Agency. 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.

Sustainable development goals

Algebris became a UNPRI signatory on 23 July 2019.

In 2019 Algebris started 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 in Tanzania, in collaboration with Hakuna Matata, a registered UK charity founded by Serra. As of December 2021, Algebris had planted more than 82,000 trees.

References

References

1. [https://beta.companieshouse.gov.uk/company/10308570 ALGEBRIS (UK) LIMITED]
2. "Davide Serra - Algebris".
3. in October 2021 Algebris managed over $18 billion in [[assets under management]].MilanoFinanza, ''Algebris nel private equity verde'', Francesco Berolino, 21 October 2021
4. "Investment Team Archives".
5. [https://www.euromoney.com/article/b15gbkfp0gplgb/western-europe-european-bankings-behind-the-scenes-activist Western Europe: European banking’s behind-the-scenes activist]
6. [https://www.ft.com/content/89263216-2db5-11e2-8ece-00144feabdc0#axzz2DEp8INcg Algebris coco fund swells]
7. [https://www.ft.com/content/c0213e30-cea7-11e7-9dbb-291a884dd8c6 Davide Serra: ‘I have an Italian heart but a British brain’]
8. "Italian bad loans draw hedge fund interest".
9. [http://www.finalternatives.com/node/33408 Serra's Algebris Launches New Macro Credit Fund]
10. [http://www.morningstar.it/it/news/162040/bollettino-morningstar---speciale-pir.aspx Bollettino Morningstar - Speciale Pir]
11. [https://www.algebris.com/press/algebris-launches-a-dedicated-environmental-business-unit-led-by-valerio-camerano/ Algebris launches a dedicated environmental business unit led by Valerio Camerano]
12. [https://register.fca.org.uk/shpo_searchresultspage?search=algebris&TOKEN=3wq1nht7eg7tr Algebris in the Financial Services Register]
13. [https://www.sec.gov/cgi-bin/browse-edgar?company=Algebris&owner=exclude&action=getcompany Algebris on the U.S. Securities and Exchange Commission site]
14. [https://eservices.mas.gov.sg/fid/institution?term=ALGEBRIS Algebris on the Monetary Authority of Singapore site]
15. [https://www.fsa.go.jp/en/regulated/licensed/fibo.pdf FSA's Financial Instruments Business Operators]
16. [https://asia.nikkei.com/Business/Business-trends/Tokyo-lures-in-overseas-hedge-funds-and-fintech Tokyo lures in overseas hedge funds and fintech]
17. [https://www.unpri.org/signatory-directory/algebris-uk-limited/4664.article PRI - Signatory directory]
18. [https://www.internationalinvestment.net/news/4009332/algebris-vows-achieve-carbon-neutrality-launches-coal-setting-project Algebris vows to achieve carbon neutrality and launches coal off-setting project]
19. [https://www.hakunamatata-charity.org/ Hakuna Matata website]
20. [https://www.algebris.com/our-group/sustainability/ Sustainability - Algebris]