INVESTMENT OPPORTUNITIES IN ALTERNATIVE FUNDS

About Us

We are two independent professionals with vast trajectory in the Chilean Capital Market.
AltFunds was created in 2015 after observing investors’ appetite for diversifying their portfolios via innovative both strategies and geographical destinations.
We have distribution agreements for the Andean Region with 9 Asset Managers based in United States, Europe and UK with US$25 billion in AUM.

Our Vision

Our experience shows and increasing trend towards sophistication.
The aforementioned is pursuit via diversifying into investments with low correlation to traditional Markets.
After over 10 years dealing with International Markets, we have been able to detect boutique Asset Managers able to achieve superior returns. The latter is offered via selecting the best funds in each alternative asset class.

Which is our advantage?

  • Access to both Traditional and Alternative Funds with an open architecture and a straightforward due diligence process.
  • Alignment of interests between the remuneration of both Clients and Fund Managers
  • Competitive fee structures
  • Broad range of investment alternatives: Long-Only (high active sharing), Private Equity, Absolute Return (L/S) ,Real-Estate & Venture Capital

Distribution Strategy

We seek to offer our portfolio of products to both Institutional and Non-Institutional Clients in Chile, Peru and Colombia, aiming at developing long-term relations, helping clients select the best Funds tailored to satisfying their individual needs.

Our Core Values

  • Independence
  • Long-term relations
  • Alignment of interests with clients

Partners

AltFunds is a financial corporation whose Partners have vast experience in the Chilean Financial System, with an active role in Investment Management both domestically and internationally. Its Partners have worked in Asset Management, Investment Analyses & Strategy and Wealth Management for large Chilean Family Offices.

Cristian Ramirez L.

Cristian Ramirez L.

Cristian has over 17 years of work experience, 12 of which have been devoted to equity research and investments, with unique experience on both the Sell-Side in Chile’s top Investment Bank (Head of Equity Research at LarrainVial) and Buy-Side for one of the largest Family Offices in Chile (CIO and Head of Research and Inversiones Benjamin), mainly focused in Global Materials, Bulks, Energy and Electric Utilities. He has participated in two Boards involving coal in Mozambique (Beacon Hill Resources PLC) and agriculture in Ukraine (Ukrainian Agrarian Investments). At present he is involved in the development of power projects in Chile & Peru under an advisory role, in conjunction with working as an External Advisor for a Chilean Family Office. Cristian holds a BS in Industrial Engineering from the Catholic University of Valparaiso (Chile), an MBA from Warwick Business School (UK) and a Master in Finance from the University of Los Andes (Chile).
Cristobal Garcia-Huidobro

Cristobal Garcia-Huidobro

Cristobal has over 17 years of work experience, having worked for almost 15 years as CIO and board member of CENTINELA, a Chilean Family Office with a diversified investment approach in terms of region, asset class and industry. Additionally, the Company is involved in the development of a wide range of projects mainly related to hydroelectric and wind power generation, Oil & Gas exploration and production, real -estate developments and mining (metallic and non-metallic). Cristobal served as board member of Central Eolica Canela S.A. and Inmobiliaria San Jose de Chicureo S.A., as well as Committee member of two mining funds, one agriculture fund, and several real-estate funds in the US. He is currently the CEO of Minera Blanco, a lithium mining company. Cristobal holds a Civil Engineering degree from Universidad Catolica de Chile and a certificate in M&A from Chicago University.

Asset Managers & Investment Alternatives

We offer a range of Funds aimed at diversifying our clients’ investment portfolios. This can be achieved with a diversification of both strategies and geographies.
The selection of Managers responds to an acute process not only of selection, but also of association.
Through this, we can keep perfecting and expanding our range of products remaining loyal to our vision.

  • Asset Manager founded in 1979 by David Polen, which is now owned&controlled by its employees.
  • Polen has a team of 33 employees domiciled in Boca Raton, Florida, with AUM of ~US$9 billion.
  • Well-diversified base of both institutional and non-institutional investors.
  • Investments via segregated accounts, US Mutual Funds and UCITS Vehicle for non-US investors.


www.polencapital.com

 

1.-Focus Growth Fund

  • Flagship Fund with a track-record of over 26 years and managed by David Davidowitz (ex Osprey & Value Line).
  • Characteristics: high active sharing with a concentrated list of 20 positions; investment universe: Russell 1000, S&P500; long-term objective returns: 400-500bp over its benchmarks; superior return to its peers (No 2 in alpha generation since inception); Capacity of US$15 billion.

2.- Global Growth Fund

  • Fund launched in 2015 and managed by Julian Pick (ex Janus)
  • Characteristics: investment universe MSCI AWCI; 24-35 positions based on conviction; no currency hedging; GEM up to 25%.
  • BPI is one of the 5 largest Portuguese Financial Holdings listed on the Lisbon Stock Exchange (PSI 20) with AUM of EUR44 billion (Market Cap of EUR 1.8bn).
  • BPI Asset Management has 23% market share in Portugal with AUM of EUR 11 billion.

 www.bancobpi.pt

1.- BPI Iberia Fund

  • Unique Long/Short strategy over Portuguese and Spanish stocks launched in Jan-10; managed by Pedro Freire Oliveira with a team of 5 others.
  • Characteristics: sector-neutral; low volatility; low drawdown; CAGR of 6.6% net (last 3 years).
  • Domiciled in Luxemburg with AUM of EUR 356 million under UCITS III structure; weekly liquidity; capacity of EUR 600 million.
  • Geneva-based alternative asset management platform founded in 2005 by Philippe Jabre with subsidiaries in Cayman Islands and Luxemburg that offers both hedge fund and traditional strategies, with over 50 professionals and an AUM of USD 1.8 billion (FINMA-regulated).
  • Philippe Jabre has over 32 years of experience, including the inception of GLG where he managed US$7 billion. At Jabre, he manages 3 of the 5 Funds, which are similar to those managed at GLG previously.

www.jabcap.com

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1.- EMEA Equity Fund (abolute return)

  • Multi-year award winning Fund managed by Carl Tohme who joined JabCap in 2007 (ex HSBC).
  • Investment universe: CEMEA, Middle-East, Africa, Russia & Turkey (up to 30% can be invested in other Emerging Markets).
  • Characteristics: multi-class investments with a long-only focus and an AUM close to USD 340 million; top-down analysis; focus on liquid stocks; off-shore Cayman Island (monthly liquidity) and Luxemburg UCITS (daily liquidity) vehicles available.

2.- Global Convertible Fund (absolute return)

  • Multi-year award winning Fund managed by Philippe Jabre that invests in convertible bond, which are hybrid instruments combining debt and equity features.
  • These instruments offer upside exposure to equity markets with downside protection provided by bond coupons.
  • Characteristics: long in convertibles bonds and short is the stock; target Markets are the US, Europe and Japan; Luxemburg UCITS IV (daily liquidity) and off-shore Cayman (weekly liquidity) vehicles; AUM of US$350mn.

3.- Global Balancead Fund

  • Investments in a mix of shares, fixed income instruments.
  • Targeting absolute returns with a bias toward liquid stocks.
  • Characteristics: top-down approach; investment universe is MSCI World Index; focus on developed market stocks; individual positions up to 1-4% of NAV; Luxemburg UCITS IV (daily liquidity) and off-shore Cayman (weekly liquidity) vehicles; AUM of US$360mn.

4.- European Credit Opportunities Fund

  • Managed by an ex RAB Capital London-based team (AUM of US$375mn)
  • During its 14 years at RAB Capital, the team delivered a 9% annualized return with low volatility.
  • The Fund objective is to produce consistent absolute returns with low volatility and risk in all market conditions.
  • Characteristics: (1) European Focus (Developed, Emerging and the UK); (2) applies long, short and paired trading strategies to a concentrated portfolio of absolute return opportunities; (3) investment from investment grade to equity-like; (4) focus on high yield (25%-75%); (5) between 20-40 positions; (6) Weekly liquidity & NAV; (7) Domiciled in Luxemburg (UCITS).
  • Independent Asset manager established in the UK in 2010 by Paul Robinson (FSA-regulated) with its Funds domiciled in Luxemburg (UCITS) with daily liquidity.
  • Its investment pillars are: (1) Attractive returns for investors, (2) Responsible Investments via active ESG; (3) Transform lives of people in countries where they invest in.
  • All Funds follow an unconstrained approach and are not benchmark driven

www.alquity.com

1.- Africa & Latam Funds

  • Managed by Roberto Lampl (ex ING & Baring AM) with +20 years experience
  • Top-down analysis targeting liquid stocks in Companies that comply with an ESG approach.
  • Africa: investment universe North Africa, Pan-Africa & South Africa
    -Multi-class investment with a Long-Only focus and an AUM close to USD 50 million.
  • Latam: Long-only with focus on the best ideas in Mexico, Chile, Peru, Colombia and Brazil

2.- Asia, India & Future World Funds

  • Managed by Mike Sell (ex F&C, Baring Peacok Fund, Thames River/Nevsky) with almost 20 years experience.
  • Asia: Long-only with holding periods of +3 years and 30-50 names in the portfolio
  • India: Sub-product of the Asia Fund with 30 names in the portfolio.
  • Future World: Fund comprised of the Top 15 stocks of the Africa, Asia and Latin America Funds.
  • UK-based Asset Manager founded in 2013 with over 90 years of combined experience in alternative credit structures having increased its AUM from US$2 billion to US$11 billion.www.acuracapital.com

1.- Acura Fintech Fund

  • Lead by Justin Farr-Jones and domiciled in Malta with a capacity of US$500 million.
  • Creation of a portfolio of high-yield debt instruments issued by US-Fintech platforms targeting consumer credits.
  • Characteristics: target 7-10% net annual returns; no leverage; short duration (15 months on average); ample and well-diversified credit portfolio; low correlation to both global stock and fixed income markets; capital protection in stress cases.
  • Private investment firm founded in 1954 that went through a MBO in 2002 by Robert Fleming and JP Morgan.
  • Investment team that manages assets in Africa since 1993.
  • Offices in 7 countries, including South Africa, Nigeria, Kenya and the UK.
  • Managers own 35% of Imara and they invest in its own Funds.
  • Total AUM of USD 550 million as of June 2015.
  • Focus on institutional and wealth management clients.
  • Regulated by FCA, FSB/JSE/SAFEX, NBFIRA, FSC

 www.imara.com

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1.- Africa Opportunities Fund

  • Multi-year award winning Africa Fund ex South Africa with a long-only and fundamental approach.
  • Managed by John Legat since its inception in 2005 with over 30 years of experience in investments and 18 years as CIO of Imara.
  • Primary Markets: Egypt, Morocco, Nigeria, Kenya and Mauritius.
  • Secondary Markets: Tunisia, Botswana, Zimbabwe, Zambia, East Africa.

2.- Bespoke accounts

  • Since 2012 Imara offers bespoke accounts to invest in Africa.
  • Investments are fundamentally driven, selecting the best ideas within the target markets.
  • Primary Markets: Egypt, Morocco, Nigeria, Kenya and Mauritius.
  • Secondary Markets: Tunisia, Botswana, Zimbabwe, Zambia, East Africa.
  • Typical portfolios have 40-45 stocks with low turnover.
  • Private firm with offices in London and Guernsey
  • Since 2008, Valiance has built a close relationships with its clients, which include sovereign funds, pension funds, leading families and individuals. These clients come to Valiance to gain privileged access to our growth capital investment opportunities

 www.valiance-am.com

1.- Fund II – Life Science

  • Focus on companies developing life science technologies in US and Continental Europe.
  • Value proposition relies on funding companies in the gap between the early development and M&A stages.
  • Well-established association with entrepreneurs to look for the best opportunities.
  • Fund size of EUR 150 million (7-8 investments of up to EUR30-40mn each).
  • Target return over invested capital: 3,0x in 3-4 years.

2.- Fund II – Farmland in Brazil

  • Acquisition of the best arable land in Brazil taking advantage of the most attractive busying opportunity in 10 years due to the temporary land price reduction.
  • Association with SLC Agricola, the best land operator in Brazil; underlying assets put together in 2012 and worth USD 344mn.
  • Management team with 35 years of experience (annual IRR of ~20%).
  • Opportunity for acquiring USD 200 million of land.
  • Target gross annual return of 18-20% (acquisition, transformation, leasing and land sales).
  • Investment platform established in 2012 with a focus on undervalued commercial real- estate assets in the UK and Continental Europe.
  • Club Deal scheme for Family Offices and Private Investors.
  • Direct investments without the costs and fees of traditional real-estate funds.
  • Current portfolio of EUR 260 million in 7 transactions.
  • Founded by Basil Demeroutis who has over 25 years in the sector working in Capricorn Partners Group (Family Office of eBay co-founder).
  • Strategic Alliance with Cording Group (UK) that manages EUR 2,4 billion in real-estate.
  • Investment principles aligned with family values.

www.forepartnership.com

  • Private firm founded in 2011 by ex Goldman Sachs employees to partner with its clients and add long-term value
  • Lucidity offers investment funds and structures investment banking debt and equity transactions, together with private equity, venture capital and a Film Fund in the US.

 www.lucidityfund.com

1.- Orange – Real-estate investments

  • Orange Investments and the Lucidity Fund have created a joint venture, in order to reinforce and solidify the real estate development projects that are offered to the market
  • Orange offers investors with: (1) Development opportunities in Mexico and the US; (2) Its own Business Intelligence Methodology for maximizing the ROI; (3) Investing in it Orange Capital I Development Fund.

2.- Red Ivy –Long-Short Fund

Fondo Long-Short

  • Both firms formed this JV in 2015 combing more than 100 years experience aiming at offering clients Red Ivy’s Tactical ETF:
    – Long-Short Strategy (ISIN: XS 1341169784)

3.- Franchises

Samba Smoothie

  • Samba Smoothie is a healthy alternative to existent concepts in both “smoothies” and “healthy food”.
  • This Mexican Company offers the Master Franchise alternative for a country, region, with the possibility of developing a multi-country platform.

www.sambasmoothie.com

C House Café

  • C House is located in Western Europe, Eastern Europe, Middle East, Asia, North Africa and the Caribbean.
  • C House can be developed in 4 different formats aiming at providing its clients with a unique experience, in a relaxed and sophisticated environment.
  • C House is offering both the Master Franchise (MF) and the Area Franchise (AF) for its different formats in Chile and other countries of South America.

www.chouseitalia.com

4.-Venture Capital

Technology– Immersion VRelia:

  • ImmersiON-VRelia is focused on the creation of wide field-of-view 3D Stereoscopic Head Mounted Displays and Heads Up Displays for Virtual Reality and Augmented Reality for multiple industries
  • The Company has over 40 patents and 4 product lines that go from industrial (under development) to the home line (available for sale).
  • Its home product (GO) has multiple advantages over existing competitors in terms of cost and flexibility.
  • Investment Alternatives:

º  The Company is raising USD10 million for a 30% stake (NPV estimated at USD 80 million)

º Product distribution for the Andean Region

 www.immersionvrelia.com

Movies

  • Investors will be able to access a series of VC opportunities in Hollywood movies either directed or produced by Mexicans.
  • The range of movies will go from second-tier ones from emerging directors to world-class, Oscar-winning ones.
  • Lucidity got the possibility of offering investors the recently acclaimed “The Revenant” directed by Alejandro Gonzalez, starring Leonardo Di Caprio

News

News, reviews, reports and articles of interest

Contact us

If you are interested in finding more about our funds and products, please contact us at:

Cristián Ramírez

cramirez@altfunds.cl

+56 (09) 8294 4055 | +56 2 2869 9101

Cristóbal García-Huidobro

cgarciahuidobro@altfunds.cl

+56 (09) 9754 6252