What Wave Group does

Wave Group is a privately held global investment firm founded in 2011 and fully owned by its management team, focused exclusively on illiquid assets and distressed credit investments across diversified industries. The firm operates as a vertically integrated one-stop-shop with in-house capabilities spanning the full value chain: Credit Management (regulated under Italy's 115 T.U.L.P.S. framework), Advisory & Structuring, Origination, Brokerage, and Investments & Asset Management (regulated by the UK's Financial Conduct Authority through its subsidiary Wave Securities LLP). Since inception, Wave Group has invested and managed over Euro 5.0 billion in distressed credit, targeting institutional investors and financial institutions that seek returns uncorrelated to public capital markets. The management team, led by Managing Partner Nicola Bonito-Oliva (formerly Head of European Alternative Investment at Dresdner Kleinwort) and Non-Executive Partner Filippo Cortesi (formerly Partner at Banca Sistema), has worked together for over 15 years and combines investment banking, structured finance, and principal finance expertise. Wave Group distributes its services through direct institutional relationship management from offices in London (11 Haymarket) and Rome (11 Piazza Venezia), with investment terms negotiated bilaterally rather than publicly disclosed. Revenue mechanics are typical of alternative credit managers — management fees on committed/invested capital plus performance fees — but neither current AUM, fee schedules, nor revenue figures are disclosed.

Name

Wave Group

Legal name

Wave Group

Website

https://wavegroup.eu

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

1–10 employees

Short description

Wave Group is a privately held, management-owned investment firm founded in 2011 that specialises in illiquid assets and distressed credit investments. It serves institutional investors and financial institutions through a vertically integrated platform spanning credit management, advisory, origination, brokerage, and asset management across the UK and Italy.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Vehicles (525990)

SIC

Miscellaneous Business Credit Institution (6159), Loan Brokers (6163)

akta.pro primary industry

Multi-Loan / Multi-Creditor Consolidation Loans (FSAKAIAD)

akta.pro secondary industry

Restructuring & Turnaround Advisory (BPAHADAD)

Keywords

• Alternative credit investments
• Distressed credit management
• Investment advisory services
• Structured finance solutions
• Illiquid asset management

Headquarters

HQ city

Rome

HQ country

Italy

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Others

Distribution channels1 record

Core offering

Wave Group is a global investment firm that operates as a one-stop-shop for alternative credit investments, sourcing, acquiring, and managing distressed credit investments across diversified industries. The firm delivers integrated capabilities across five service lines—Credit Management, Advisory & Structuring, Origination, Brokerage, and Investments & Asset Management—regulated under 115 T.U.L.P.S. in Italy and the FCA in the UK.

Product overview

Wave Group is a global investment firm operating as a "one-stop-shop" for alternative credit investments. The company offers a unified suite of services structured around distressed credit investments, comprising Credit Management (regulated by 115 T.U.L.P.S. in Italy), Advisory & Structuring, Origination, Brokerage, and Investments & Asset Management (FCA-regulated in the UK). The subsidiary Wave Securities LLP provides the FCA-regulated entity for UK operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Credit Management Sourcing, acquiring and managing distressed credit investments across diversified industries, regulated by 115 T.U.L.P.S. in Italy. Targeted at institutional investors and financial institutions seeking exposure to illiquid alternative credit assets.
• Advisory & Structuring Strategic advisory and structuring services for alternative credit investments, providing clients with capital markets and structured finance expertise. Targeted at financial institutions and investors needing bespoke deal structuring.
• Origination Origination services for distressed credit and alternative investment opportunities, identifying and developing investment deal flow. Targeted at institutional investors seeking sourced alternative credit opportunities.
• Brokerage Brokerage services for illiquid credit instruments and alternative investments. Targeted at institutional clients transacting in non-public credit and distressed securities.
• Investments & Asset Management Investment management and asset management services for distressed credit portfolios, regulated by the FCA in the UK through subsidiary Wave Securities LLP. Targeted at institutional investors seeking actively managed alternative credit portfolios.

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 indicators3 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Centerbridge Partners: Alternative investment manager focused on distressed credit, special situations and private equity. Comparable as a specialist in acquiring and managing distressed debt across industries.
• Marathon Asset Management: European-focused alternative credit manager active in distressed credit, NPLs and special situations. Comparable European origination footprint and focus on illiquid credit instruments for institutional clients.
• Muzinich & Co: Privately-held global alternative credit manager with European roots offering multi-strategy credit solutions. Comparable as a specialist credit manager serving institutional investors without public-market listing pressure.
• Oaktree Capital Management: Global specialist in distressed credit, special situations and high-yield bonds founded by Howard Marks. The closest comparable to Wave Group: institutional-only manager generating returns uncorrelated to public markets with deep workout capabilities.
• Pemberton Asset Management: European alternative credit manager focused on direct lending and special situations for institutional investors. Comparable European institutional client base and focus on non-public credit opportunities.
• Hayfin Capital Management: London-headquartered alternative credit manager operating across direct lending, special situations and distressed credit in Europe. Directly comparable as a European-focused, multi-strategy credit specialist serving institutional investors.
• Avenue Capital Group: Long-standing specialist in distressed debt and special situations with significant European operations. Comparable investment approach of acquiring discounted credit instruments and managing workouts across cycles.

Broad incumbents

• Intermediate Capital Group (ICG): UK-listed alternative asset manager with a deep European credit franchise across direct lending, mezzanine and special situations. Comparable European institutional credit platform, though broader in product scope.
• Apollo Global Management: One of the world's largest alternative asset managers with a major credit business spanning distressed, direct lending and structured credit. Comparable involvement in distressed credit, though operates across many asset classes beyond Wave Group's focused mandate.
• Alcentra: Global alternative credit manager (BNY Mellon-owned) focused on European credit, distressed debt and direct lending. Comparable as a specialist alternative credit manager serving institutional clients with European concentration.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/wave-group

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

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 Wave Group