Algebris

Algebris is a privately owned investment-management company headquartered in London and operating internationally through offices and regulated entities in Europe, North America and Asia. Founded in 2006 by Davide Serra, a former Morgan Stanley analyst, and Eric Halet, a former Wellington Management fund manager, the firm initially built its identity around investing in global financial companies. Its first fund, the Algebris Global Financials Fund, launched in October 2006 and reportedly grew from approximately $700 million to about $2 billion during its first year. The firm’s investment focus evolved substantially after the global financial crisis. Algebris initially concentrated on bank equities, but after 2008 it increasingly sought opportunities in the capital structures of globally systemically important financial institutions, particularly Tier 1 and Tier 2 debt. This transition made financial credit a central part of the business. Its activities later expanded to include subordinated financial debt, financial equities, non-performing loans and strategies extending beyond financial companies. A global macro strategy was introduced in 2016, while a fund focused on credit and equity securities of mainly midsized Italian companies was launched in 2017. Algebris has also developed capabilities connected with sustainability and the energy transition. In February 2021, the firm announced a dedicated team led by Valerio Camerano to invest in opportunities associated with the green transition. In January 2025, it launched Algebris Climatech, a strategy focused on climate-oriented startups. These initiatives broadened the firm’s profile beyond its historic financial-sector specialization toward climate technology and investable solutions linked to decarbonization. The company serves institutional and other professional investors through investment funds and related asset-management strategies. Publicly described areas include financial equities, financial credit, subordinated debt, non-performing loans, global macro investing, Italian corporate securities and climate technology. Algebris has offices in London, Milan, Rome, Dublin, Boston, Singapore, Zurich and Tokyo. Its operating entities are subject to different regulatory regimes, including the United Kingdom’s Financial Conduct Authority, the United States Securities and Exchange Commission, the Monetary Authority of Singapore, Japan’s Financial Services Agency and Luxembourg’s Commission de Surveillance du Secteur Financier. In October 2021, Algebris was reported to manage more than $18 billion in assets. Because assets under management fluctuate and the cited figure is time-specific, it should not be treated as a current measure of the firm’s size. Davide Serra, who is described as the firm’s founder and chief executive, owns Algebris outright. The firm became a signatory to the United Nations-supported Principles for Responsible Investment in July 2019 and began a group carbon-offsetting initiative that year involving tree planting in Tanzania. By December 2021, the initiative was reported to have planted more than 82,000 trees.

Algebris was established in London in 2006 by Davide Serra and Eric Halet. Serra had previously worked as an analyst at Morgan Stanley, while Halet had been a fund manager at Wellington Management. The firm’s first investment vehicle, the Algebris Global Financials Fund, was launched in October 2006. During its first year, the fund reportedly expanded from approximately $700 million to around $2 billion in assets under management, giving the new firm an immediate specialization in financial-sector investing. Algebris originally concentrated on bank shares and other financial equities. Following the 2008 financial crisis, it shifted much of its attention toward value opportunities in the Tier 1 and Tier 2 debt structures of globally systemically important financial institutions. This development established financial credit as a major component of the firm’s business. In November 2012, the Financial Times identified the Algebris Financial CoCo Fund as one of London’s more profitable funds, according to the cited account. The firm subsequently broadened its investment activities. Its financial-credit business included subordinated debt, financial equities and, from 2014, non-performing loans. In 2016, Algebris added a global macro strategy that could invest outside the financial sector. In 2017, it launched a fund focused on credit and equity securities issued by mainly midsized Italian companies. These developments moved the firm beyond a narrow bank-equity mandate while retaining financial institutions and credit as important areas of expertise. Algebris began adding a stronger sustainability and transition-investment dimension during the late 2010s and early 2020s. It became a signatory to the United Nations-supported Principles for Responsible Investment on 23 July 2019. That year, it also began a carbon-offsetting program intended to support group carbon neutrality through tree planting in Tanzania, in collaboration with Hakuna Matata, a United Kingdom-registered charity founded by Serra. The program included a commitment to plant 20 trees per employee annually; more than 82,000 trees had reportedly been planted by December 2021. In February 2021, the company announced a dedicated team led by Valerio Camerano to invest in opportunities linked to the green transition. In October of the same year, Algebris was reported to manage more than $18 billion in assets. In January 2025, it launched Algebris Climatech, a fund aimed at climate startups, demonstrating a further expansion into climate technology and venture-oriented investment themes. Algebris operates through a geographically distributed platform. Its reported offices include London, Milan, Rome, Dublin, Boston, Singapore, Zurich and Tokyo. Algebris (UK) Limited is authorized and regulated by the Financial Conduct Authority, while associated entities in the United States, Singapore, Japan and Luxembourg are subject to their respective financial regulators. Davide Serra is identified as founder and chief executive and is reported to own the firm outright. Current assets, fund performance and the complete executive structure are not established here beyond the cited historical material.

1. 2025Algebris Climatech launches

   The firm launches a fund focused on climate startups.

   Source
2. 2021Green-transition investment team announced

   A team led by Valerio Camerano is created to pursue investment opportunities connected with the green transition.

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3. 2019UN-supported PRI signatory status begins

   Algebris becomes a signatory to the United Nations-supported Principles for Responsible Investment.

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4. 2017Italian mid-market credit and equity fund launched

   Algebris launches a strategy focused mainly on credit and equity securities of midsized Italian companies.

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5. 2016Global macro strategy introduced

   The firm adds a global macro approach capable of investing outside the financial sector.

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6. 2014Non-performing loans added to the investment scope

   Algebris expands its financial-credit activities into non-performing loans.

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7. 2012Algebris Financial CoCo Fund receives positive press coverage

   The Financial Times highlights the Financial CoCo Fund among London’s more profitable funds.

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8. 2008Investment emphasis shifts toward financial credit

   After the financial crisis, Algebris increasingly targets Tier 1 and Tier 2 debt structures of globally systemically important financial institutions.

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9. 2006Algebris is founded in London

   Davide Serra and Eric Halet establish Algebris as an investment-management firm focused on the global financial sector.

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10. 2006Algebris Global Financials Fund launches

    The firm launches its first fund in October, initially concentrating on global financial equities.

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A specialist, privately owned asset manager serving institutional and professional investors, with a historic emphasis on global financials and credit and an expanding focus on climate transition and climate technology.

• Algebris Global Financials FundFinancial-sector investment fund2006

  Launched in October 2006, this was Algebris’s first fund and established the firm’s original specialization in global financial companies. Its early investment profile centered on bank shares and related financial equities. The fund’s reported growth during its first year helped establish Algebris as a significant specialist manager soon after formation.

• Algebris Financial CoCo FundFinancial credit fund

  The Financial CoCo Fund is associated with Algebris’s post-crisis focus on financial credit and subordinated bank capital. Contingent convertible securities, commonly called CoCos, form part of the capital structures issued by financial institutions. The fund received favorable coverage in 2012, when the Financial Times identified it among London’s more profitable funds.

• Italian mid-market credit and equity fundItalian corporate credit and equity fund2017

  Launched in 2017, this strategy targets credit and equity securities of mainly midsized Italian companies. It represents Algebris’s expansion from large global financial institutions into a more geographically focused segment of the Italian corporate market.

• Global macro strategyGlobal macro investment strategy2016

  Introduced in 2016, the global macro strategy broadened Algebris’s opportunity set beyond financial companies. The strategy could invest across markets and asset classes in response to macroeconomic and market conditions, although detailed mandates, performance and current availability are not established in the cited material.

• Algebris ClimatechClimate-technology investment fund2025

  Launched in January 2025, Algebris Climatech focuses on investing in climate startups. It reflects the firm’s broader move toward climate-transition opportunities and technology associated with decarbonization. The cited material does not specify the fund’s size, geographic mandate, portfolio companies or current performance.

• 2019Tanzania carbon-offsetting and tree-planting initiative

  Tanzania · United Kingdom

  Algebris began a group carbon-offsetting project intended to support carbon neutrality. The initiative involved planting trees in Tanzania with Hakuna Matata, a United Kingdom-registered charity founded by Davide Serra, and included a commitment to plant 20 trees per employee each year.

  Outcome. More than 82,000 trees were reported to have been planted by December 2021.

  Source

• 2025Launch of Algebris ClimatechProduct launch

  Algebris had developed a broader sustainability and green-transition focus after joining the UN-supported Principles for Responsible Investment and creating a dedicated transition-investment team.

  What changed. The firm launched Algebris Climatech, a fund focused on climate startups.

  Aftermath. The launch marked a further expansion from the firm’s historic financial-sector specialization into climate technology.

  Source
• 2021Creation of green-transition investment capabilityStrategy

  Growing investor attention to decarbonization and sustainable infrastructure created demand for dedicated investment approaches linked to the energy transition.

  What changed. Algebris created a team led by Valerio Camerano to invest in opportunities associated with the green transition.

  Aftermath. The initiative preceded the launch of Algebris Climatech, extending the firm’s activities into climate-startup investing.

  Source
• 2016Expansion into global macro investingStrategy

  Algebris sought to broaden its investment capabilities beyond its historical concentration in financial institutions.

  What changed. The firm introduced a global macro strategy that could invest outside the financial sector.

  Aftermath. The move expanded the firm’s potential investment universe beyond financial equities and credit.

  Source
• 2008Shift from bank equities toward financial creditStrategy

  The global financial crisis changed the opportunity set in banking and financial markets, while distressed and subordinated financial debt became a central area of potential value.

  What changed. Algebris increasingly emphasized Tier 1 and Tier 2 debt structures of globally systemically important financial institutions, alongside financial equity.

  Aftermath. Financial credit became a major part of the firm’s business and was later extended to non-performing loans and other credit opportunities.

  Source

• 2025Algebris launches Algebris Climatech

  The firm launched a fund focused on investing in climate startups, extending its activities into climate technology.

  Product launch
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• 2021Algebris launches a green-transition investment team

  Algebris announced a team led by Valerio Camerano to pursue investable opportunities associated with the green transition.

  Leadership change
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• 2021Algebris reports more than $18 billion under management

  In October 2021, Algebris was reported to manage more than $18 billion in assets. The figure is time-specific and should not be read as a current total.

  Other
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• 2019Algebris becomes a UN-supported Principles for Responsible Investment signatory

  Algebris joined the United Nations-supported Principles for Responsible Investment, formalizing an association with responsible-investment principles.

  Regulation
  Source

1. Algebris
2. Algebris official website