Investcorp-Tages brings together each of Investcorp’s and Tages Capital LLP’s absolute return investment businesses operating within London, New York and Milan. The combined team consists of over 30 seasoned professionals, including 18 on the investment team with an average of over 19 years industry experience.
Co-CEO
CIO of Tages Capital LLP
Prior to founding Tages Group in 2010, Salvatore was the former Head of Portfolio Management within Alpha Strategies at Credit Suisse. While at Credit Suisse, he also served as Deputy Head of Alpha Strategies, Head of Manager Selection and Strategy Analysis in the Alternative Investments and Mutual Funds Team, and Deputy Head of Hedge Fund Research and Selection in Alpha Strategies. Prior to joining Credit Suisse, in 2004, he was a Senior Hedge Fund Analyst and a Portfolio Manager with BSI SA (Generali Group).
Salvatore holds a Degree in Economy and Business Law from Bocconi University of Milan. He is a CFA and a CAIA Charter holder.
Co-CEO
CIO of Investcorp ARI LLC
Prior to joining Investcorp in 2013, Lionel worked for 11 years at Lyxor Asset Management, where he held the dual position of Chief Investment Officer (2004 – 2013) and Chief Executive Officer of Lyxor Inc. (2009 – 2013). Prior to joining Lyxor, he was a Vice President in the Equity Corporate Finance department at Société Générale, where he worked on several IPOs, capital increases and convertible bond issues.
Lionel has an MBA Degree in Finance from the École Supérieure des Sciences Économiques et Commerciales (ESSEC) in Paris.
COO
Saul is the COO of Investcorp-Tages. Prior to joining Tages in 2011, Saul was the former Head of Operational Due Diligence at Pamplona Capital Management. Prior to this, he worked at Tarchon Capital Management, where he served as Operational Due Diligence Analyst and Accountant and subsequently was appointed as Head of Operational Due Diligence. He started his career at PricewaterhouseCoopers in London, primarily focussing on clients within the Insurance and Investment Management division.
Saul holds an Honours Degree in Economics and Social Studies specialising in Accounting and Finance from the University of Manchester. He is a Chartered Accountant and a CAIA Charter holder.
ESG & Impact
Prior to joining Tages in 2013, Manuela was the former Head of Hedge Fund Investments at Duemme SGR. She previously worked for Unifortune SGR, with responsibility over the creation and management of Fund of Funds. She worked for the Italian Stock Exchange in Milan and at the Derivative Desk of Citibank Milan.
Manuela holds an MSc in Econometrics and Mathematical Economics from the London School of Economics and is a CFA Charter holder.
Quantitative Solutions
Prior to joining Tages in 2015, Berouz previously worked at Credit Suisse for eight years as Managing Director with responsibility for managing proprietary trading for the fixed income department and then as interim Head of Commodities and Head of Energy trading at the bank. Prior to Credit Suisse, he was a partner at Northbay, a fixed-income hedge fund and previously, he managed several proprietary and derivatives trading teams for institutions such as Lehman Brothers, SBC Warburg and Merrill Lynch. He has over 30 years of financial markets experience.
Berouz graduated from ESCP business school in Paris. Subsequently he prepared for a PhD in International Finance and Economy at Dauphine University.
Tactical Strategies
Prior to joining Investcorp in 2003, Jonathan worked for Cazenove Capital management in London where he was a member of the Investment Strategy Group and Investment teams. He has also held positions in management consulting and quantitative analysis, and has more than 25 years’ of investment experience.
Jonathan holds an MSc in Economics and Finance from the University of Bristol and the IIMR (UK equivalent of the CFA).
CRO
Prior to joining Tages in 2011, Diego was a former Senior Portfolio Manager of the Funds of Hedge Funds Division at UBI Pramerica SGR. Previously, he worked for nine years within the Research Department at Capitalgest SGR serving as economic and quantitative analyst.
Diego holds a Degree in Economics from the University of Brescia.
Operational Due Diligence
Prior to joining Investcorp in 2014, Jonathan worked at FRM Investments LLC, a division of Man Group Plc, where he spent six years and was most recently the Deputy Head of Business Risk. Prior to this he was a Senior Associate at Ernst and Young for four years where he qualified as CPA in the State of New York. His license is currently inactive.
Jonathan holds a Master of Science in Accountancy and a Bachelor of Business Administration with a concentration in Finance from the University of Notre Dame.
Equity Strategies
Prior to joining Tages in 2011, Matteo was formerly a Portfolio Manager at Credit Suisse in London. In this role, he was responsible for the construction and management of the institutional and retail fund of hedge funds, managing over 1 billion USD. He was responsible for the first UCITS fund of absolute return funds launched in July 2010 by Credit Suisse. Previously, Matteo was an Analyst at Valore Reale Sgr Spa in Milan.
Matteo holds a Degree in Business Administration from the Università Cattolica del Sacro Cuore in Milan.
Hedge Fund Research
Prior to joining Tages in 2014, Selim was formerly a Portfolio Manager and Fund Analyst in the fixed income team of La Française. He started his career at Alteram as an Assistant Portfolio Manager in 2005 and was appointed Hedge Fund Analyst in 2009. He became a Portfolio Manager in 2011.
Selim holds a Master’s Degree in Applied Economics from the University of Paris-Est, a Master’s Degree in Portfolio Management from the Eiffel School of Management and an Executive Master in Corporate Finance and Capital Markets from Sciences Po. Paris.
CFO
Richard is the CFO of Investcorp-Tages. Prior to joining Tages in 2012, Richard was the former Deputy Chief Operating Officer and Chief Financial Officer of Occam Asset Management, where he worked from 2010 to 2012. From 2005 to 2010, Richard worked on the Fund Derivatives desk at KBC Financial Products in a variety of roles. He started his career at PricewaterhouseCoopers within the Banking and Capital Markets Division, where he qualified as a Chartered Accountant.
Richard holds a Degree in Maths & Philosophy from the University of Nottingham.
Credit Strategies
Prior to joining Tages in 2011, Luca was the former CIO of UBI Pramerica FoHF operations in Italy, where he was responsible for almost 500 million EUR of assets. Before this role, he was head of the fixed income desk at Capitalgest SGR mutual funds (responsible for over 10 billion EUR of AUM in fixed income instruments) and proprietary trader on the fixed income desk of a leading Italian bank.
Luca holds a Degree in Economics from the University of Brescia.
Hedge Fund Research
Prior to joining Investcorp in 2011, Gayan worked at Carlton Capital Partners as Assistant Portfolio Manager investing in hedge funds. Prior to this, he worked for Baltic Asset Management, a family office, as a Senior Analyst. He joined the investment field in 2006 working for Goldman Sachs in London as a Financial Analyst investing in equity, fixed income, structured investments and alternative assets for private wealth clients. Prior to Goldman Sachs, he worked at KPMG in the Audit and Corporate Finance departments.
Gayan holds a BSc in Accounting and Finance from the London School of Economics and Political Sciences. He is member of the Institute of Chartered Accountants in England and Wales and a CFA Charter holder.
The Tages Capital element of this website (“website” or “site”) is issued by Tages Capital LLP (“Tages Capital”) which is authorised and regulated by the UK Financial Conduct Authority (Register number 563369). Tages Capital is incorporated in England and Wales under registered number OC364873 with registered office 39 St James’s Street, London, SW1A 1JD.
Tages Capital LLP’s VAT number is 119 8245 00.
Queries in relation to this website can be sent to clientservices@InvestcorpTages.com. However, do not use this email address in relation to any investment or other business correspondence.
The content of this site is aimed at professional investors who meet:
If you are not a professional investor, please exit the site. Information on this site is unsuitable for and should not be relied upon by any Retail client. If you have any doubts about your status, please contact Richard.Silver@InvestcorpTages.com.
By accessing any page of this site, you agree to be bound by the Terms below. If you do not agree to the Terms, please exit the site. This page is designed to filter out unsuitable categories of investors from accessing the site and as such Tages Capital cannot be responsible for any explicit or implicit misrepresentations you may make in gaining unauthorised access to the site.
The site does not constitute an offer by Tages Capital to enter into any contract / agreement nor is it a solicitation to buy or sell any investment. It should not be used for the purpose of an offer or solicitation in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or not authorised. Investors must inform themselves about the laws which are in force in their country or jurisdiction. You should ensure that you are legally allowed access to this website and its contents in the country from which you connect.
There are significant risks associated with investments in collective investment schemes and other financial instruments. Investment in such schemes is intended for sophisticated investors who can accept the risks associated with such an investment, including a substantial or complete loss of their investment. Schemes may be permitted to and use gearing as an investment strategy. The effect of such gearing is that movements in the price of the schemes will be more volatile than the movements in the prices of their underlying investments.
Past performance is not a guide to future performance and your entire investment is at risk of loss. The value of investments and any income derived from them can go down as well as up and the value of an investor’s investment may be extremely volatile and be subject to sudden and substantial falls. The prices of commodities contracts and all derivatives instruments, including futures and options, are highly volatile. Certain investment positions may be illiquid. The funds may invest in securities of financially troubled companies, illiquid over-the-counter securities and non-publicly traded securities.
Investment in a fund with exposure to emerging markets involves risk factors and special considerations which may not be typically associated with investing in more developed markets. Political or economic change and instability may be more likely to occur and have a greater effect on the economies and markets of emerging countries. Adverse government policies, taxation, restrictions on foreign investment and on currency convertibility and repatriation, currency fluctuations and other developments in the laws and regulations of emerging countries in which investment may be made, including expropriation, nationalisation or other confiscation could result in loss to the fund.
Income from investments may fluctuate. Changes in rates of exchange may have an adverse effect on the value, price or income of investments. You should be aware that investments in higher yielding bonds issued by borrowers with lower credit ratings may result in a greater risk of default and have a negative impact on income and capital value. Income payments may constitute a return of capital in whole or in part. Income may be achieved by foregoing future capital growth. Fund charges may be applied in whole or part of capital, which may result in capital erosion.
The foregoing list of risk factors is not complete, and reference should be made to the funds’ constitutional documents, KIIDs and application forms.
Please note, the investment products mentioned on the UCITS Funds page of the website are directed only at those who are Eligible Counterparties and Professional Clients as defined by the Financial Services and Markets Act 2000 of the United Kingdom.
By proceeding you agree, so far as this is permitted under the provisions of the UK regulatory system, to the exclusion by us of any liability, including without limitation that arising from any loss of profit or any other damage direct or consequential, in respect of any errors and/or omissions by us and/or any relevant third parties in respect of the content.
The contents of this site are based upon sources of information believed to be reliable, however, save to the extent required by applicable law or regulations, no guarantee, warranty or representation (express or implied) is given as to its accuracy, suitability, reliability, completeness, performance, fitness, freedom from viruses or timeliness of the content or services contained in this website. Tages Capital, its members, officers and employees do not accept any liability or responsibility in respect of the information, or any views expressed herein.
Tages Capital accepts no liability for any loss or damage of any nature whatsoever, whether directly arising from accessing, using, consulting or navigating this site or any parts of contents thereof, or from links to other websites.
If you have accessed this site using a link from another site, Tages Capital does not accept any liability or responsibility for the accuracy of information contained within the sites of other providers who have links to any pages of this site or to whom this site is linked. The creation of links to this site is prohibited without our prior express permission.
All the information and opinions on this website are provided by Investcorp-Tages for general information purposes only. We make every effort to ensure that the information on this website is accurate and complete at the time of its publishing. Any view or opinion expressed on this website is subject to amendment without notice. We cannot guarantee that the information on this website has not been altered as a result of technical malfunctions. We accept no liability for any loss or damage of any nature whatsoever, whether direct arising from accessing, using, consulting or navigating its website, or from links to other websites.
The information contained in this site about Tages Capital is not directed to any person in the United States. The provision of the information in this site does not constitute an offer of securities to any person in the United States or to any U.S. Person. Shares in the funds have not been, and will not be, registered under the US Securities Act of 1933, as amended (the “1933 Act”), or qualified under any applicable state statutes, and the Shares may not be offered, sold or transferred in the United States of America (including its territories and possessions) or to or for the benefit of, directly or indirectly, any US Person, except pursuant to registration or an exemption. The funds are not, and will not be, registered under the US Investment Company Act of 1940, as amended (the “1940 Act”), and investors will not be entitled to the benefit of such registration. Consequently, it cannot be offered for sale or be sold in the USA, its territories, possessions or protectorates under its jurisdiction, nor to nationals, citizens or residents in any of those areas. The funds may make a private placement of the Shares to a limited number or category of US Persons.
Tages Capital maintains a complaints handling policy and procedures in accordance with which it handles complaints, including complaints made by complainants who are eligible to bring a complaint before the Financial Ombudsman Service, the independent statutory dispute-resolution body for the financial services industry in the United Kingdom.
Tages Capital is a registered trademark.
Tages Capital owns all copyright and other intellectual property rights in this website and all of its content. It is forbidden to reproduce (in full or in part), publish, amend, transfer, create a link to or use this site for any public or commercial purposes without the prior consent of Tages Capital.
No information contained in this site should be deemed to constitute the provision of financial, investment, taxation or other professional advice in any way. Investors should obtain professional financial advice before proceeding with any investment.
Taxation will depend on individual financial circumstances and the country of residence. Investors should obtain professional advice on taxation where appropriate before proceeding with any investment.
This website does not capture, collect or store any personal data of any kind. This site stores cookies on your computer for certain aspects of site functionality only.
A “cookie” does not allow us to identify you, but stores information about navigation through our website (such as pages already visited, time and date of visit) which we can remember during the user’s next visit to the website in order to improve browsing experience.
By accepting these terms and conditions you will be consenting to the storage of cookies on your computer. Further information about our use of cookies can be found here.
These terms and conditions shall be governed by and interpreted in accordance with English law and the courts of England shall have exclusive jurisdiction to hear all disputes arising in connection with them or your use of the website.
Please read these terms and conditions carefully; they may be changed, amended or modified without notice to you. Your continued use of the site following any changes will be deemed to indicate that you accept such changes. If you do not agree to the modified terms and conditions, you should cease use of the website.
Click the box to confirm your acceptance of these terms and conditions.
By clicking accept:
I confirm I am a professional investor as defined in these terms. I also acknowledge and agree to the terms and conditions above. I undertake to access the information contained in this website for my personal use and not for commercial use.
I confirm that I am aware of the laws in my own jurisdiction relating to the provision and sale of funds and related financial services products and I warrant and represent that I will not pass on or utilise the information contained in this website in a manner that could constitute a breach of such laws by Investcorp-Tages or any other person.