Spain's azValor AM opens rep office in London

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AzValor Asset Management, a Spanish value equity investment manager, has opened a representative office in London, with what it says is the aim of boosting its research capabilities, increasing capacity and providing greater access to its corporate clients.

Michael Alsalem, a former Ledbury Partners’ portfolio manager, will head up the new office, which is described as not currently UK-regulated. While at Ledbury, Alsalem oversaw the launch of a European fund that focused on “deep value” and other special situation investments.

Prior to that, Alsalem held co-portfolio manager and senior analyst roles at firms including Highbridge Capital and Kingdon Capital Management in New York and London.

The new azValor London office will be run by the parent company of the asset manager, azValor said in a statement.

The office will represent the only London outpost of a Spanish independent asset manager, following the withdrawal of other firms in recent years, azValor added.

AzValor Asset Management was established as an SGIIC (Sociedad Gestora de Instituciones de Inversión Colectiva) in 2015,  and today manages some €1.7bn in assets under management across four investment funds, two pension plans and two Luxembourg SICAVs.