Launches & Closures

Financials specialist Algebris targets bank ‘coco’ market


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