Written by Sarah Praetorius

The Geneva asset manager, Alba Investment Partners (AIP), has launched a new credit fund. The Alba Credit Opportunities Fund hit markets on 15 May, finews.com can reveal.

Its investment approach combines a bottom-up fundamental analysis of credit selection with a top-down macroeconomic analysis to drive risk management. The latter is implemented through an overlay of derivatives.

The goal of the strategy is a return maximization with the preservation of capital in liquid credit globally with a European bias. The long-short credit strategy has a long bias, while its net credit exposure lies between 0 and 60%. The target return range is between 10% -12%. Meanwhile, the make-up of the fund is a private equity-style portfolio construction with 20-30 high-conviction credit picks. The flagship fund is a continuation of one of the strategies that the team previously ran together at the single-family office, B-Flexion.

A Paradigm Shift in The Credit Market

«Following a decade of low interest rates and low credit spread dispersion, largely driven by central bank interventions, we're now witnessing a paradigm change. Geopolitical tensions, persistent inflation, climate change, and demographic pressures from an aging population are reshaping the macroeconomic landscape. This renewed volatility and dispersion create a fertile environment for an opportunistic credit strategy like ours. Our objective is to deliver equity-like returns through credit investments while maintaining a risk profile aligned with the senior position of credit relative to equity in the capital structure,» says co-founder, Guillaume Di Liberatore.

From Switzerland’s Largest Single-Family Office to Own Boutique

The three founding partners, Di Liberatore, Luigi Mantrino, and Stefano Tittarelli, launched AIP in July 2024, after exiting one of Europe’s largest single-family offices, B-Flexion. B-Flexion is
Switzerland’s largest single-family office with an estimated CHF 9,39 billion in assets under management. The foundation of the firm was based on the sale of the biopharmaceutical company Serono to Merck KGaA in 2007 for USD 13 billion.

In December of last year, AIP was approved as manager of collective assets by the Finma. Looking to the future, the team says, it aims to scale its boutique by deploying a strategy it previously ran that proved to be both differentiated and successful.