Belgrave Capital Management

What Belgrave Capital Management does

Belgrave Capital Management Ltd. (BCM) is a London-based investment management firm founded in 1995 by Mattia Nocera and subsequently acquired by Banca del Ceresio, making it a core UK platform within the Ceresio Investors Group. The firm is authorised and regulated by the Financial Conduct Authority as an Alternative Investment Fund Manager and specialises in the research and selection of investment advisors and discretionary managers using alternative investment strategies. BCM serves professional and institutional clients — HNW individuals, family offices, and institutional investors — under FCA Professional Client and Eligible Counterparty classifications, with US persons explicitly excluded.

BCM operates a multi-jurisdictional fund platform comprising four vehicles: Vitruvius SICAV (a long-only multi-portfolio Luxembourg SICAV), Leveraged Assets Fund Ltd. (a Cayman Islands exempted company), GSA Global Macro Partners Fund I LP (a Delaware limited partnership with a global macro strategy), and Selection Holdings (a Luxembourg SICAV-FIAR) for which BCM serves as advisor to the Investment Committee of Global Selection SGR S.p.A. Services are grouped into three lines: managers selection, research, and funds management.

The business model is recurring-fee-driven, generating revenue through investment management fees on the funds it manages and advisory fees for investment committee services to Global Selection SGR S.p.A. Distribution is direct to institutional and professional investors, leveraging the Ceresio Investors Group network and BCM's FCA AIFM status. The firm is privately held, with operational governance shared between an executive team (CFO/COO Peter McMullan, Director of Portfolio Management & Research Ishtaj Rahman, Director of Legal & Compliance Francis Lunn, Director of Dealing Operations Nick Green) and a board dominated by Ceresio Group and external industry figures. Revenue and AUM are not publicly disclosed.

Name

Belgrave Capital Management

Legal name

Belgrave Capital Management Ltd.

Website

https://belgrave.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Alternative Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (52591)

SIC

Investment Advice (6282), Investors, Nec (6799)

akta.pro industry

PRIMARYFSAAAGAG

Insurance General Accounts (Institutional Asset Owners)

Financial & Insurance/Asset & Wealth Management/Asset Management — Institutional (Pensions, Endowments, Sovereign)

SECONDARYFSAHAFAB

Multi-Strategy — Single-Manager, Multi-PM

Financial & Insurance/Hedge Funds & Alternative Investments/Hedge Funds — Multi-Strategy

SECONDARYFSANAGAC

Venture Capital Fund-of-Funds

Financial & Insurance/Private Equity & Venture Capital/Fund-of-Funds / Multi-Manager Platforms

Keywords

• Alternative investment management
• Hedge fund selection
• Multi-manager funds
• Investment advisory services
• Fund 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, Others

Revenue model

1. Investment Management Fees: BCM generates revenue through investment management fees charged to the funds it manages, including Vitruvius SICAV, Leveraged Assets Fund Ltd., and GSA Global Macro Partners Fund I LP. The firm also earns advisory fees for providing investment committee advisory services to Global Selection SGR S.p.A.

Distribution channels1 record

Marketing channels2 records

Core offering

Belgrave Capital Management (BCM) is a London-based FCA-authorised Alternative Investment Fund Manager that specialises in the research and selection of investment advisors and discretionary managers using alternative investment strategies. The firm manages multiple fund vehicles — Vitruvius SICAV (a Luxembourg long-only multi-portfolio SICAV), Leveraged Assets Fund Ltd. (a Cayman Islands exempted company), and GSA Global Macro Partners Fund I LP (a Delaware limited partnership) — and serves as advisor to the Investment Committee of Global Selection SGR S.p.A. in relation to Selection Holdings, a Luxembourg SICAV-FIAR.

Product overview

Belgrave Capital Management (BCM) is a London-based investment manager offering a unified platform of alternative investment management services, including managers selection, research, and funds management. BCM manages three primary investment vehicles: Vitruvius SICAV (a Luxembourg-domiciled long-only multi-portfolio fund), Leveraged Assets Fund Ltd. (a Cayman Islands exempted company), and GSA Global Macro Partners Fund I LP (a Delaware limited partnership). Additionally, BCM serves as advisor to Selection Holdings, a Luxembourg SICAV-FIAR, through its relationship with Global Selection SGR S.p.A.

Differentiator

Problem solved

Functional benefit

Products and services

• Vitruvius SICAV

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Banca del Ceresio / Ceresio Investors GroupcoreStrategic or Co-development Partner · 1 January 1995BCM was established by Mattia Nocera in 1995 and subsequently acquired by Banca del Ceresio. BCM is now an integral part of the Ceresio Investors Group, which includes subsidiaries such as Ceresio SIM S.p.A., Global Selection SGR S.p.A., and various fund structures. The group has over 100 years of combined history and provides BCM with institutional backing and access to the Italian financial market through its affiliated entities.

Scale indicators2 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• Sand Grove Capital Management: London-based alternative investment / hedge fund manager founded by former BCM Head of Portfolio Management & Research Jonathan Groom. Directly comparable multi-strategy alternatives platform.
• Egerton Capital: London-based long/short equity hedge fund manager. Comparable to BCM as a London-headquartered alternatives manager; also directly connected through BCM non-executive director Jeff Blumberg, who is CEO of Egerton Capital.
• Global Selection SGR S.p.A. Italian asset management company (part of Ceresio Investors Group) for which BCM serves as advisor to the investment committee on Selection Holdings SICAV-FIAR. Operates adjacent multi-manager products under the same group umbrella.
• Kairos Investment Management: London and Italy-based alternative asset manager with multi-manager and hedge fund offerings. Comparable as a European multi-manager alternatives platform, with overlapping senior talent (BCM's compliance director previously held a senior compliance role at Kairos).
• Eclectica Asset Management: London-based macro and multi-asset hedge fund manager. Comparable boutique alternatives manager; BCM's Director of Dealing Operations previously served as Risk Manager at Eclectica.

Broad incumbents

• Lazard Asset Management: Global asset manager with substantial alternatives capabilities. Comparable to BCM's institutional alternatives proposition at much greater scale; BCM's compliance director previously served as UK Compliance Officer at Lazard.
• Man Group: Large London-listed multi-strategy alternatives and investment management firm. Provides a benchmark for institutional multi-manager and hedge fund offerings at much greater scale than BCM.
• Schroders: Major UK-listed asset manager with significant alternatives and multi-manager offerings. Comparable broad incumbent competing for the same European institutional alternatives mandates.
• Aviva Investors: Large UK-headquartered asset manager offering multi-manager and alternative investment capabilities. Relevant incumbent peer for institutional mandates and stewardship-aligned investing in the UK.
• Ceresio SIM S.p.A. Italian investment firm within the same Ceresio Investors Group as BCM. Comparable as a sister entity offering institutional and private banking-style investment services in Italy under shared ownership.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/ceresio-investors

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Belgrave Capital Management