TENAX CAPITAL LIMITED - Key Persons


Alessandro Franchi

Job Titles:
  • Head of Operations

Alessia Di Camillo

Job Titles:
  • Office Manager
Alessia joined Tenax in August 2022 as Office Manager.

Alex Franchi

Alex Franchi joined Tenax Capital in 2017 as Head of Operations. Prior to Tenax, he worked for more than 15 years in hedge funds and asset managers. He has managed the operations of various types of funds, ranging from long-short to onshore and UCITS regulated funds and encompassing various asset types such as OTC and listed derivatives, equity and fixed income. He holds a BA Hons in Information Management & Finance from the University of Westminster

Alex Severne - Chief Legal Officer

Job Titles:
  • Legal Counsel
Alex joined Tenax as Legal Counsel and Company Secretary in November 2022 and is a qualified solicitor. Prior to joining Tenax, Alex worked as a solicitor reporting to the General Counsel for Travelers Europe, the European arm of one of the largest US insurance companies. Alex has more than five years of experience in general insurance and has also worked in private practice on a range of financial, banking, insurance and professional disputes matters. Alex also has a background in compliance, and holds a diploma in governance, risk, and compliance from the International Compliance Association

Amanda Callaghan

Job Titles:
  • Head of Credit Fund Operations
Amanda was previously Head of Loan Trade Support/Loan Operations at Commerzbank, where she had responsibility for the support teams in secondary loan trading and distressed debt. She has over 25 years experience in the loans market spanning emerging markets, distressed and par loan settlements, loan administration and cash management. She is a specialist in LMA and LSTA documentation. Amanda was responsible for the establishment of emerging markets and secondary loan trading support desks at Dresdner Kleinwort prior to their acquisition by Commerzbank Amanda is the Head of Credit Fund Operations at Tenax.

Andreas Tretzmueller

Job Titles:
  • Portfolio Manager
  • Portfolio Manager ( Northern Europe )
Andreas is part of the investment team and member of the investment committee of the Tenax European Credit Fund (TECF) since its inception in 2019. He has worked with Tenax since 2016 and has 30 years of experience in credit investment and direct lending to SME businesses in Europe. Prior to Tenax he managed the German private debt investments of Belvall Capital (formerly DAM Capital) as a partner and subsequently founded his own SME private debt investment and advisory business. Previously Andreas worked at Mizuho in Frankfurt as director for their credit business in Germany. He started his career in corporate and international finance with Raiffeisen Bank International (formerly Raiffeisen Zentralbank) in Austria and Eastern Europe and he was a director for corporate finance and corporate banking with Tatra Banka in Slovakia. Andreas graduated from Vienna University of Economics and Business with an MA degree in Commerce and he has an MBA from Harvard Business School.

Dariusz Ubik

Job Titles:
  • Equity Analyst
Dariusz joined Tenax in November 2022 and is a part of HealthCare Fund.

Dean Blagden

Job Titles:
  • Head of Compliance and Risk / Dean Blagden Is the Head of Risk and Compliance

Filippo Padovani

Job Titles:
  • Portfolio Manager
  • Portfolio Manager ( Southern Europe )
Filippo joined the investment team of Tenax Capital Italian private debt funds in 2021. Gianpaolo is part of the investment team of the Tenax European Credit Fund (TICF). Prior to Tenax, Gianpaolo worked for approximately 15 years in Private Equity for Synergo, Sofipa, Intesa San Paolo and Paribas Affaires Industrielles. Gianpaolo holds a BA cum laude from Bocconi University and an MBA from SDA Bocconi with an exchange program at London Business School.

Gianpaolo Piatella

Job Titles:
  • Portfolio Manager ( Southern Europe )
Gianpaolo is part of the investment team of the Tenax European Credit Fund (TICF).

Gianpaolo Piattella

Job Titles:
  • Portfolio Manager
Gianpaolo is part of the investment team of the Tenax European Credit Fund (TICF).

James Ellison - COO

Job Titles:
  • Chief Operating Officer
James joined Tenax Capital in January 2023 as Chief Operating Officer. James was previously Head of Operations for Equity Trustees Fund Services where he was part of the Executive Leadership team. Prior to this, James was Head of Fund Accounting at BMO Global Asset Management focusing on multi-asset products across Luxembourg, Ireland and UK. James also held Fund Controller roles at JP Morgan Asset Management and Goldman Sachs Asset Management. James started his career at Aviva Investors in both the Technology and Finance teams.

Kostas Feruliovas

Job Titles:
  • Equity Analyst
Kostas is part of the investment team of the Financial Equities Fund. Prior to Tenax, Kostas worked as a generalist Equity Research Analyst for several companies including a Norwegian investment Bank Norne Securities. Kostas holds a BSc in Economics from Vilnius University and graduated with a Master of Science degree in Finance from Vrije Universiteit Amsterdam in 2014.

Ludovico Bragolusi

Job Titles:
  • Equity Analyst
Ludovico joined Tenax Capital in January 2023 and as part of the Equity Team covers the Renewable Energy Sector. Alongside his role as Renewable Energy Analyst Ludovico is also part of the team that drives the quantitative research effort at Tenax Capital.

Marco della Giacoma

Job Titles:
  • Portfolio Manager
Marco della Giacoma is part of the investment team of the Fixed Income and Insurance-Linked Securities Marco joined Tenax in 2017 to manage the Tenax ILS Fund. He has since expanded his responsibilities to the broader liquid fixed income landscape. His main areas of expertise are insurance and the global fixed income markets. Prior to Tenax, Marco worked at Swiss Re in Zurich and London holding different positions and becoming ILS structurer for the European market. Marco completed his MSc Finance at Durham Business School in 2011 and his MSc International Economics at the Rotterdam Erasmus University in 2010. He studied Economics at Bocconi University where he earned his BSc in 2009. He is also a judo black belt and sailing instructor

Marco Moreschi

Job Titles:
  • Advisor Direct Lending
  • Investment Committee Member and Senior Advisor
Marco Moreschi is an Investment Committee Member and Senior Advisor for the Tenax Italian Credit Fund.

Martynas Vaiciunas

Job Titles:
  • Fixed Income Analyst
Martynas has joined Tenax in January 2024 and is a part of the Fixed Income investment team. Prior to that, he has spent four years with Moody's Investors Service, where most recently he was contributing to the ratings and research process, covering a diversified portfolio of issuers across European High Yield space. Martynas has earned his BSc in Economics from Lancaster University in 2019 and is a CFA charterholder since 2022

Massimo Figna - CEO, Founder

Job Titles:
  • CEO
  • Founder
  • Member of the Board of Directors
Massimo Figna is a Founder of Tenax Capital Limited. He is the Portfolio Manager for the Tenax Financials Fund. Massimo was an Executive Director at UBS from 1999 to 2004, responsible for Italian, German Insurance and European asset gatherers. While working for UBS, Massimo ranked among the leading European insurance sector analysts. Massimo graduated from Pavia University in 1995, with a Masters Degree in economics. He won a scholarship in 1995 to follow a specialisation course in actuarial mathematics at the C.U.O.A. business school of Altavilla Vicentina (VI)

Niccolò Ballarati

Job Titles:
  • Portfolio Manager
  • Fenician Capital As Portfolio Manager
  • Portfolio Manager for the Global Financial Fund
Niccolo Ballarati is the portfolio Manager for the Global Financial Fund and the Global UL Equity Strategy and has more than 15 years of experience in public equities investing. Niccolo worked at UBS from 2000 to 2006 as Equity sales covering pan European Asset Manager and UK based Hedge Fund In 2006 Niccolo joined Fenician Capital as portfolio manager running a long-short equity portfolio In 2010 Niccolo moved to Brazil where he joined Patria Investimentos becoming responsible for public Equities strategies managing a long only and a long-short equity fund In 2016 Niccolo moved back to London joining Tenax Capital Niccolo holds a university degree in Economic History and Econometric from the University of Florence.

Nicola Bertoli

Job Titles:
  • Credit Analyst
Nicola holds a bachelor's degree in international political economy and a master's degree in international economy and finance from University of Milan. Prior to Tenax, Nicola was Intern at the Directorates- General of the EU Commission seat in Milan, and has several years of experience as credit analyst for an LSE listed fintech firm, and as M&A and Capital Markets analyst in cross-industries deals for a UK-based boutique.

Rolf Brien

Job Titles:
  • Portfolio Manager
  • Portfolio Manager ( Northern Europe )
Rolf is part of the investment team of the Tenax European Credit Fund (TECF). Prior to Tenax, Rolf has worked for the last 25 years both as a principal investor and as a corporate finance advisor with a focus on financings for mid-sized European companies. He recently spent circa 3 years on the investment committee of the European Investment Bank for its MidCap Growth Financing Initiative. Previously he was a managing director and investment committee member at both PRICOA, the European investment arm of the U.S. Prudential, and Mezzanine Management, a dedicated pan-European mezzanine provider. He is a qualified Chartered Accountant and Corporate Treasurer and has a B.Com (Hons) from Birmingham University.

Salvatore Zeolla

Job Titles:
  • Operations Manager
Salvatore Zeolla joined Tenax Capital in 2022 as Operations Manager.

Toby Pughe

Job Titles:
  • ILS Analyst
Toby Pughe is part of the investment team of the Insurance-Linked Securities (ILS) Fund. He joined Tenax in 2021 from AXA XL in London where he was underwriting North American and International catastrophe (re)insurance.

Tomas Valtas

Job Titles:
  • Credit Analyst
  • Fixed Income Analyst
Tomas is part of the Tenax Fixed Income investment team.

William Clark

Job Titles:
  • Director
William Clark had over 35 years experience in international banking and asset management with Chemical Bank of New York (now J.P.Morgan), Prudential Insurance of American and the Royal Bank of Scotland. His roles at Chemical Bank included Head of Corporate Banking for the UK and Nordic Countries, General Manager in Singapore, and Regional Head of Energy and Mining Finance.

William Mak

Job Titles:
  • Non - Executive Director
  • Chief Investment Officer and Chief Financial Officer at the Portuguese Insurer Fidelidade
William Mak is the Chief Investment Officer and Chief Financial Officer at the Portuguese insurer Fidelidade. He is also chairs the Investment Committee at Tenax.