TOMORR OW’ S TITANS 2023
Rami Abdel-Misih
Founder and CIO Mane Global Capital Management New York
Mane Global was launched by Rami Abdel-Misih in 2021 with $1 billion of support from Moore Capital. The firm is a full spin out of Moore Capital where the low-net consumer and technology long/ short equity strategy had been managed since 2015. The firm’s investment process blends deep fundamental analysis with a data-driven approach using a proprietary data product, research bank and financial models in addition to a focus on macro dynamics given the lessons learned from and a continued relationship with Moore Capital. The 10-person investment team, many of whom shared professional history at Moore Capital, have experience across retail, consumer staples, consumer discretionary, internet, payments and other consumer-facing tech in addition to a five- person non-investment team that supports the business. Position sizing, portfolio construction and risk management all follow a structured process seeking asymmetric risk reward. From a risk management standpoint, style, factor and industry tilts are closely monitored, as is crowding. The firm is global in nature and focuses on liquid securities from mid to mega cap. Abdel-Misih was previously a consumer and technology portfolio manager at Moore Capital, an investment analyst at Level Global and started his finance career as a research associate at J.P. Morgan. He has a BA in Finance from Franklin and Marshall College.
Edgar Allen
Founder and CIO High Ground Investment Management London
Edgar Allen launched HGIM in 2019 to trade a long-biased European oriented equity long/short strategy, taking a long-term view on investing in high quality longs trading below intrinsic value, while shorting firms with secular headwinds and dishonest accounting. The investment process also includes an awareness of behavioural finance biases. Around 70% of exposure is in Europe with 30% in other developed markets. The largest long holdings in June 2023 included Airbus, Legal & General, Julius Baer, Humana and BAE Systems. HGIM does independent ESG analysis and finds high quality companies tend to have high ESG scores; the manager can also short toxic ESG firms including those with weak accounting or governance. Allen, who started shorting equities in 2000 during the tech bubble, was previously a partner at Naya, and earlier at TCI. At both firms he researched some of their most profitable long and short investments. He was earlier an analyst at other hedge funds and at BlackRock and Fidelity. HGIM’s innovative fee structure sees
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management fees decline as assets rise, while performance fees crystallize after two years and only apply above a hurdle rate. Allen has an MA in Pathology from Cambridge University.
Mike Azlen
Founder and CEO Carbon Cap Management LLP London
Mike Azlen founded Carbon Cap Management LLP in 2018. The firm manages a distinguished carbon strategy, the World Carbon Fund, which invests in liquid and regulated compliance carbon markets. It has met its aim of delivering high absolute returns with low correlation to equities and commodities. The fund deploys capital across two complementary strategies within a clearly defined risk framework: Core Strategy and Alpha Strategies. The Core Strategy seeks to generate returns from directional tactical allocations across multiple carbon markets combined with an options overlay. The Alpha Strategies seek to generate returns from arbitrage, relative value and other short term trading strategies. Tactical shorting and idiosyncratic trading strategies have helped to preserve capital and avoid downside in late 2022 and early 2023. The fund reports under SFDR Article 9 and demonstrates positive impact in part by contributing to lowering global CO2 emissions. In addition, 20% of the performance fees are committed to the purchase and permanent cancellation of carbon allowance permits. Azlen sits on the CFA Institute’s Climate and Investing Panel. He previously founded multi- asset manager, Frontier Investment Management, and earlier was the CEO of alternative asset manager, Asset Alliance International (the UK subsidiary of Asset Alliance Corporation). He has a Sloan Masters from London Business School, where he is a guest lecturer, and a BA in Economics from University of Guelph in Ontario, Canada.
Brent Belote
CEO and Portfolio Manager Cayler Capital Jackson, Wyoming
Brent Belote has built the Cayler Energy Program, a systematic fundamental approach to energy trading, which uses algorithms to track data including production, imports, exports, inventories, shipping, transport, pipelines, cost curves, end user data and volatility. The data is gathered from government bodies, international organisations, exchanges, financial data providers and industry players. The strategy trades liquid, exchange cleared energy futures and options, including WTI, Brent crude, gasoline and heating oil. Trade types include directional trades on oil; call spreads and put spreads; and
relative value positions such as calendar spreads, crack spreads to trade refinery margins and basis markets. The strategy has been profitable in every calendar year since 2020. The return profile has a strong positive skew and is not correlated to other energy or systematic strategies, or to trend following CTAs. The strategy can be accessed via managed accounts and will soon be on the Galaxy Plus managed account platform. Belote was previously an oil product derivatives trader and a crude oil derivatives trader at J.P. Morgan. He has an MBA from NYU Stern School of Business and a BSc in Accounting from University of Southern California.
Jaime Beza
Founder, Managing Partner and CEO ANB Investments Madrid
ANB was founded in 2016, and initially applied its proprietary algorithms and technology to FX, commodities and equity indices. In August 2020, the asset class focus switched to cryptocurrencies, and in August 2021 ANB (which is BVI regulated) launched a Cayman fund, the Full Strategy Fund, applying the same quantitative strategies that were applied to traditional assets with delta neutral strategies to cryptocurrencies. The fund has annualised 25% net return to June 2023. Quantitative strategies include trend and countertrend trading of BTH and ETH. Delta neutral models capture market inefficiencies including arbitrage, liquidity provision, lending, cash and carry and staking, for top 20 market cap coins; Blockchains Ethereum, Polygon, BSC & Avalanche; and Protocols Aave, Compound, Curve and Uniswap. The short-term strategy turns over 40 times per month on average, and trades 24/7 with risk alerts and human supervision. ANB has often been cautious in switching wholly or mainly to cash during episodes such as TerraUSD/Luna collapse and Voyager and Celsius bankruptcies. Exposure to FTX was eliminated before its collapse. ANB has never lost assets to any of these events, following strict risk management procedures. Jaime Beza was previously a derivatives sales trader at Credit Suisse. He has a double degree in Business Management and Law from Universidad Pontificia Comillas in Madrid.
Mathieu Boisvert/ Charles Haggar
Founding Partners, CEO/CIO Bastion Asset Management Montreal
Mathieu Boisvert, Charles Haggar, and senior portfolio manager Michael Gentile founded Bastion in January 2022 with seed funding from one of the largest pension funds in Canada,
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