Algebris

Algebris was founded in 2006 by Davide Serra (from Genoa), a former analyst with Morgan Stanley and Eric Halet, a former fund manager with Wellington Management Company. The first fund, Algebris Global Financials Fund, was launched in October 2006. During the first year the fund grew from $700 million to around $2 billion managed. 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.

In January 2025, the company launched Algebris Climatech, a fund focused on investing in climate startups.