Financials specialist Algebris targets bank ‘coco’ market

Thu Mar 24, 2011

Davide Serra

Eric Halet
Algebris Investments, the $1.2 billion specialist global financials investment firm led by Eric Halet and Davide Serra, is rolling out its new Algebris Financial CoCo Fund to invest solely in contingent convertibles (cocos) – the new hybrid instrument that is designed to strengthen banks’ capital structures and prevent a repeat of the 2008 banking crisis.

The launch of the fund comes at a time when opinion appears to be polarising sharply among senior bankers, regulators, investors and financial sector analysts as to the pros and cons of the coco instrument.

Just in the last few days, Credit Suisse attracted more than $20 billion of demand for its debut $2 billion...

ISSN: 2151-1845 / CDC10004H

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