Trium Capital

What Trium Capital does

Trium Capital LLP is a London-based, FCA-authorised (Register 497640) private limited liability partnership that operates as a multi-boutique liquid alternatives asset manager. Founded in 2013 and family-office-backed, the firm runs nine distinct strategies organised into six UCITS funds (Trium Alternative Growth, Trium Avala Dynamic Equity, Trium Climate Impact, Trium Epynt Macro, Trium ESG Emissions Improvers, and Trium Multi-Strategy UCITS) and three hedge funds (Trium Khartes, Trium Larissa Global Macro, and Trium Silver Blaze), augmented by a Custom Solutions service for bespoke mandates. Each strategy is managed by a named, senior portfolio manager with prior experience at tier-one buy-side institutions — including Franklin Templeton, GAM, BlueCrest, Moore Capital, Société Générale, HSBC, JPMorgan, Fortem Capital and Pacific Investments — and Trium provides shared operational, regulatory and distribution infrastructure so that PM talent can operate with autonomy inside a regulated wrapper.

The firm makes money primarily through recurring management fees on assets under management across its UCITS and hedge-fund vehicles, with a contractual share of both management and performance fees retained from each partner PM (per the disclosed revenue model). Distribution is enterprise-led: dedicated institutional sales and relationship management target professional and institutional investors — wealth managers, family offices, and institutions — across 17 European jurisdictions (UK, Austria, Finland, France, Germany, Guernsey, Liechtenstein, Luxembourg, Iceland, Italy, Ireland, Netherlands, Norway, Portugal, Spain, Switzerland) and the United States, supported by a dedicated investor portal, document library and ongoing thought-leadership output through the 'Trium Talks' content platform and external podcast/media presence. The customer model is gated by investor type (Professional vs Retail) and country selection on the public site.

Strategic recent signals include the absorption of Sabre Funds into the platform in 2019 (seeding the Trium Avala quantitative equity strategy), the hire of Anton Tonev in February 2023 to deepen global macro capacity, ongoing expansion of the UCITS shelf into climate and ESG emissions themes, and active capital deployment evidenced by 2025 Form 8.3 disclosures of significant interests in Dowlais Group PLC (1.36%), Spectris PLC (1.01%) and a 0.01% stake in Qualcomm Incorporated. No revenue, AUM or fee-rate figures are publicly disclosed.

Name

Trium Capital

Legal name

Trium Capital LLP

Website

https://trium-capital.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Trium Capital LLP is a London-based, FCA-authorised multi-boutique liquid alternatives asset manager that launches and runs nine UCITS and hedge-fund strategies with specialist portfolio managers, generating recurring management and performance fees from professional and institutional investors across Europe and the United States.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282)

akta.pro primary industry

UCITS / Liquid Alternatives Fund of Funds (FSAHAKAE)

akta.pro secondary industries

Multi-Asset Mutual Funds & UCITS (Balanced/Allocation Funds) (FSAAAJAA), Target-Risk / Risk-Profile Model Portfolios (FSAAAJAD)

Keywords

• Liquid alternatives
• Hedge fund management
• UCITS funds
• Multi-strategy funds
• Alternative asset management

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Management Fees: Trium Capital generates revenue through management fees charged on assets under management across its UCITS and hedge fund strategies. As a fund launcher and accelerator, the firm partners with portfolio managers and takes a share of the management and performance fees generated by the funds.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Trium Capital is a liquid alternatives asset manager that launches and accelerates specialist funds in partnership with carefully selected portfolio managers. The firm manages a suite of nine alternative strategies spanning UCITS funds and hedge funds, covering equity, macro, climate impact, ESG, and multi-strategy approaches for professional and institutional investors.

Product overview

Trium Capital is a liquid alternatives asset manager operating a multi-boutique platform structure. The company launches and accelerates specialist funds in partnership with carefully selected portfolio managers. The product suite comprises nine distinct investment strategies organized into two main categories: six UCITS funds (Trium Alternative Growth, Trium Avala Dynamic Equity, Trium Climate Impact, Trium Epynt Macro, Trium ESG Emissions Improvers, and Trium Multi-Strategy UCITS) offering regulated European investment vehicles, and three hedge funds (Trium Khartes, Trium Larissa Global Macro, and Trium Silver Blaze) for alternative investment access. Additional offerings include Custom Solutions for bespoke investment mandates and a Document Library for investor access to fund documentation and regulatory disclosures. The platform is unified by shared operational infrastructure, ESG and sustainability focus, and institutional-grade investor services including a dedicated investor portal.

Differentiator

Problem solved

Functional benefit

Brands

• Trium Alternative Growth: Multi-strategy alternative investment fund focusing on alternative assets and volatility trading.
• Trium Avala Dynamic Equity
• Trium Climate Impact
• Trium Epynt Macro
• Trium ESG Emissions Improvers
• Trium Multi-Strategy UCITS
• Trium Khartes
• Trium Larissa Global Macro
• Trium Silver Blaze

Products and services

• Trium Alternative Growth UCITS liquid alternatives strategy focused on alternative growth investments and volatility trading, managed by Portfolio Manager Toby Hayes.
• Trium Avala Dynamic Equity Dynamic equity UCITS strategy employing style arbitrage and factor timing approaches, managed by CIO/Portfolio Manager Dan Jelicic.
• Trium Climate Impact UCITS strategy focused on climate-related investment opportunities including water infrastructure, energy transition, and environmental sustainability themes, managed by Portfolio Manager Tom Ayres.
• Trium Epynt Macro UCITS global macro strategy identifying and monetising major macroeconomic and geopolitical trends across fixed income, FX, commodities, and equities, managed by Portfolio Manager Thomas Roderick.
• Trium ESG Emissions Improvers UCITS ESG-focused strategy targeting companies with improving emissions profiles in high-emitting sectors such as cement, steel, and other industrial processes, managed by Portfolio Manager Joe Mares.
• Trium Multi-Strategy UCITS UCITS fund combining multiple alternative investment approaches within a regulated UCITS structure, offering diversified alternative exposure across strategies.
• Trium Khartes Hedge fund strategy operated within Trium's multi-boutique structure, offering alternative investment approaches.
• Trium Larissa Global Macro Global macro hedge fund strategy managed by Anton Tonev and team, focusing on developed and emerging market opportunities with a thematic approach.
• Trium Silver Blaze Hedge fund strategy offered as part of Trium's suite of alternative investment products.
• Custom Solutions Tailored investment solutions developed in partnership with carefully selected portfolio managers to meet specific investor objectives.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• Aspect Capital: London-based systematic macro manager offering UCITS and institutional managed accounts across diversified trend, commodity and equity programs. Direct peer in liquid macro UCITS competing for the same European institutional/wealth manager mandates.
• Brevan Howard: Global macro hedge fund with a UCITS fund (BH Macro) and diversified strategies run by multiple PMs. Directly comparable on macro strategy mix and on targeting European institutional/wealth clients via regulated wrappers.
• Winton Group: London-based systematic multi-strategy manager with UCITS offerings (Winton Trend, Multi-Strategy) run by multiple internal teams. Direct peer in diversified systematic/CTA liquid alts UCITS for European institutional clients.
• GAM Holdings: Swiss-listed multi-boutique asset manager offering UCITS liquid alternatives (systematic, macro, credit) via independent PM teams. Closest direct comp on structure (multi-boutique + UCITS) and on talent sourcing from the same BlueCrest/GAM alumni network.
• Cayman-based Rokos Capital Management: Macro-focused hedge fund manager (Chris Rokos) offering multi-strategy exposure with European institutional access. Comparable on macro-heavy multi-strategy liquid alts positioning and London/European client overlap.
• Man Group: Largest publicly listed multi-manager liquid alternatives platform (AHL, Numeric, FRM, etc.) offering UCITS and hedge fund strategies across systematic, macro and credit. Closest scaled analogue to Trium's multi-boutique liquid alts model with overlapping investor base.
• Caxton Associates: Multi-strategy macro and discretionary hedge fund manager with global macro UCITS offering. Direct comp on global macro product mix and on diversified PM-team model targeting European wealth/institutional clients.
• Capula Investment Management: London-based multi-strategy macro and credit hedge fund manager with UCITS vehicles. Comparable on multi-PM structure, London domicile, and European institutional/wholesale distribution.

Emerging players

• BlueCrest Capital Management: Recently reopened multi-strategy hedge fund founded by former BlueCrest PMs. Direct strategic comp on PM-led multi-strategy liquid alts and on drawing talent from the same post-BlueCrest diaspora that supplies Trium.

Broad incumbents

• Lazard Asset Management: Large global asset manager offering liquid alternatives UCITS (e.g., Rathmore group) within a broader traditional asset management franchise. Overlaps with Trium on European institutional distribution of liquid alts but operates at vastly greater scale and breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Trium Capital