London hedge fund targets Italian equities with double hire

Algebris Investments, the $11bn London-based hedge fund set up by former Morgan Stanley European banks research chief Davide Serra, has hired two staff to make a push into Italian equities.

Algebris, which was launched in 2006 by Serra with the backing of TCI Fund Management’s Christopher Hohn, expanded with offices in Boston and Singapore in 2013. It opened a Milan office two years ago.

To date, the Italian team has focused mainly on investing in non-performing loans as part of Algebris’ suite of private strategies. The hires this month of Luca Mori and Federica Bombello mark a greater emphasis on public equity investing in the country.

Mori, previously chief investment officer at Zenit, where he started in 2008 and also managed Italian stock funds, has joined to “develop our expertise in the Italian equity market”, according to Algebris’ website.

Bombelli, previously an assistant portfolio manager focusing on Italian equities at Zenit, has joined Serra’s firm as an investment analyst covering the same sector.

A spokeswoman confirmed the hires.

The latest arrivals follow the hires of Ines Depascale as risk officer in May, Yasin Youssouf covering global financials in June, Tom Cotroneo as chief risk officer in July, and Victor Tang as a portfolio analyst covering financial sector equities in July, according to Algebris’ website.

To contact the author of this story with feedback or news, email Vivek Ahuja

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