Spanish value equity investment manager azValor Asset Management has opened a representative office in London with the aim of boosting its research capability, increasing capacity and providing greater access to target corporates.
The office, which is non-regulated, will be headed by Michael Alsalem, a former Ledbury Partners’ portfolio manager. He launched there a European fund focusing 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.
azValor’s is said to be the only Spanish independent asset manager with an office in the British capital.
Alsalem said: “London will always be an important financial centre and I am delighted to be joining the azValor team, whom I have known for many years for its rigorous and differentiated investment approach.
“With the implementation of Mifid II, it is important to have direct contact with investment targets and build that into the value we offer our co-investors, and I look forward to developing that access and capability.”
The firm’s CEO and CIO Álvaro Guzmán de Lázaro, said: “We are very happy to introduce Michael to our clients as we think about investment in very similar ways. His assistance in broadening and deepening our research capability from London will be most helpful as we continue to seek undervalued companies across our markets.”
azValor Asset Management was established as an SGIIC (Sociedad Gestora de Instituciones de Inversión Colectiva) in 2015 and tallies 37 professionals. It manages some €1.7bn in assets under management across four investment funds, two pension plans and two Luxembourg Sicavs.