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Eric Halet steps down as Portfolio Manager

Eric Halet, one of the two founding partners of Algebris, has announced his intention to take a sabbatical, and to step back from the investment business that he and co-founder Davide Serra started back in 2006. Eric will relinquish his portfolio management responsibilities as of today, and take some time off, before setting up a new investment business. The intention is that his next venture will invest more broadly than just the financial sector.

Davide Serra will continue to drive the business at Algebris, as the sole portfolio manager, supported by the consolidated investment team.

“Algebris has raised over $800 million in the last 12 months in our credit strategy, and we are committed to continue to develop the business in the years ahead.” said Davide Serra. “We wish Eric well in his future plans. As Eric will retain an interest in Algebris Investments (UK) LLP, we look forward to continue working with him in the coming years.”

Eric Halet commented “After nearly 20 years of doing research and investing in global financials stocks, including six very intense years at Algebris, I am looking forward to taking a few months off before I start working on a new project later this year. This new project will involve expanding my investment horizon beyond financial stocks to take advantage of the profound economic and technological changes that will affect the world in the next decade. As I do so, I am glad that I will continue to be associated with Algebris and its outstanding investment team to whom I wish every success.”