What Andromeda Capital Management does

Andromeda Capital Management is a London-headquartered, FCA-authorized hedge fund (Andromeda Capital Management (UK) LLP, FRN 989509) founded in October 2022 by Alberto Gallo (CIO) and Aditya Aney (Portfolio Manager), both previously portfolio managers at Algebris Investments. The firm operates a single unified global credit and macro investment strategy, investing across the entire capital structure with a focus on developed markets, high yield, and Europe, and combining top-down asset allocation with bottom-up credit analysis to monetize regime changes and market dislocations. Supporting infrastructure includes quantitative models for macro/sectoral development tracking and portfolio risk profiling, but the firm's principal asset is the founding team's 20+ years of combined credit-market experience and 10+ years of joint collaboration across Goldman Sachs, RBS, Algebris, and other major institutions.

The firm monetizes through the industry-standard 2-and-20 hedge fund fee structure (2% management fee on AUM, 20% performance fee on positive returns), targeting institutional investors (pension funds, insurers, endowments, sovereign wealth funds), family offices, and high-net-worth individuals. Distribution is exclusively direct, with no reliance on broker-dealers or third-party platforms; relationships are originated via the founders' prior networks and managed by a dedicated Head of Business Development. Beyond investment management, the firm has built thought-leadership distribution through the Silver Bullet investor letter series (15 editions), credit webcasts, and high-profile Bloomberg and Macro Hive appearances by the CIO.

Andromeda has expanded its operational footprint to a second office in Singapore to serve Asia-Pacific investors and has added non-investment leadership (COO, CRO, Head of Business Development) to institutionalize operations, risk, and fundraising as the firm scales beyond its initial $200 million of seed capital. The firm is recognized as an emerging hedge fund manager through Hedge Fund Journal's Tomorrow's Titans (2023) and continues to recruit interns in both London and Singapore, signaling continued buildout. Revenue, current AUM, and performance are not publicly disclosed.

Name

Andromeda Capital Management

Legal name

Andromeda Capital Management (UK) LLP

Website

https://andromedainvestors.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Andromeda Capital Management is a London-headquartered, FCA-authorized hedge fund founded in 2022 that runs a global credit and macro strategy, investing across the capital structure with a focus on developed markets, high yield, and Europe to monetize regime changes and market dislocations for institutional investors, family offices, and HNW individuals.

Ownership category

akta.pro rank

Product category

Credit Hedge Fund Management

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Portfolio Construction & Asset Allocation Advisory (FSAEAAAC)

Keywords

• Credit hedge fund
• Fixed income investing
• Macro credit strategy
• Alternative asset management
• Regime change investing

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Hedge Fund Management & Performance Fees: Andromeda Capital Management operates as a hedge fund generating revenue through a combination of management fees (charged on assets under management) and performance fees (charged on positive returns). This is the standard 2-and-20 fee structure typical for credit-focused hedge funds. The firm's AUM-based management fees provide recurring revenue, while performance fees align manager and investor interests and grow with investment returns.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Andromeda Capital Management is a global investment management firm that runs a credit-focused hedge fund strategy combining top-down macro analysis with bottom-up deep-dive credit analysis. The firm invests across the entire capital structure with a focus on developed markets, high yield, and Europe, targeting alpha generation through identifying and trading regime-change and macro/credit inflection points. The strategy is offered to institutional investors, family offices, and high-net-worth individuals via direct subscriptions.

Product overview

Andromeda Capital Management is a hedge fund that offers a single, unified investment strategy focused on global fixed income and credit markets with a macro-driven, contrarian approach. The firm monetizes dislocations during economic volatility through top-down asset allocation combined with bottom-up credit analysis. The company publishes periodic investor letters titled 'The Silver Bullet' and operates internship programs in London and Singapore. Andromeda does not offer a portfolio of distinct software products or modules; its offering is a single investment management strategy delivered directly to institutional investors.

Differentiator

Problem solved

Functional benefit

Products and services

• Global Credit Opportunities Fund Credit-focused hedge fund strategy combining top-down macro asset allocation with bottom-up deep-dive credit analysis. Invests across the entire capital structure and across countries, with a focus on developed markets, high yield, and Europe. Designed to deliver best risk-adjusted returns in credit markets by identifying regime-change and macro/credit inflection points and monetizing dislocations during economic volatility. Offered to institutional investors, family offices, and high-net-worth individuals through direct subscriptions.

Quantifiable outcome

• Andromeda was founded in 2022 with $200 million AUM and has grown its presence through consistent media visibility on Bloomberg, Reuters, and industry publications.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Marathon Asset Management: Marathon is a credit-specialist alternative asset manager with global event-driven, distressed, and credit hedge fund strategies. It pursues many of the same European, high-yield, and developed-market credit opportunities as Andromeda and is a comparable for institutional mandates focused on credit alpha.
• Rokos Capital Management: Rokos is a London-based macro hedge fund founded by former Brevan Howard PMs, focused on global macro and credit. It is institutionally funded, pursues regime-change-style macro themes, and targets many of the same pension, sovereign wealth, and family-office clients as Andromeda.
• Algebris Investments: Algebris is the prior employer of Andromeda's two co-founders and Head of Research, who ran the Global Credit Opportunities fund there from 2016-2022. It is a global macro/credit-focused alternative asset manager with closely overlapping strategy, team DNA, and target allocator base, making it Andromeda's most direct comparable peer.
• Capula Investment Management: Capula is a London-based hedge fund manager specializing in fixed income, credit, and macro strategies. It runs a multi-strategy platform with significant credit exposure and competes with Andromeda for institutional credit hedge fund allocations from pensions and insurers.

Broad incumbents

• CQS: CQS is a large, established credit-focused alternative asset manager running multi-strategy credit, structured credit, and event-driven funds. As a scaled incumbent with similar credit DNA, it competes with Andromeda for credit-allocator mandates and serves as a benchmark against which Andromeda's boutique, single-strategy positioning must differentiate.
• Brevan Howard: Brevan Howard is one of the largest global macro hedge funds, with strategies spanning rates, FX, and credit. Although much larger and more diversified, it competes for the same institutional allocator dollars as Andromeda, particularly for mandates seeking top-down macro views combined with convex risk-taking around regime changes.
• Millennium Management: Millennium is one of the largest global multi-strategy hedge fund platforms, with significant credit and macro pods. While it is far larger and more diversified, it represents the scaled institutional competitor Andromeda faces for institutional multi-asset and credit-allocator mandates.
• BlueMountain Capital: BlueMountain is a well-known credit-focused hedge fund manager historically focused on structured credit, corporate credit, and long/short credit. Although its franchise has been partly absorbed by Allspring/Wells Fargo, it remains comparable on credit-allocator-style mandates relevant to Andromeda's institutional pitch.

Emerging players

• Birch Lane Capital: Birch Lane Capital was a $350M long/short credit hedge fund co-founded by Andrea Marangoni (now Andromeda's Head of BD). With similar credit long/short DNA and management-team overlap, it is an emerging-stage comparable for Andromeda's boutique credit positioning.
• Acer Tree Investment Management: Acer Tree is a credit-focused hedge fund where Andromeda's Head of Business Development (Andrea Marangoni) previously led structuring and BD. With overlapping credit product focus and similar London institutional positioning, it is an emerging player directly comparable in size and strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/macrocredit
• YouTubeyoutube.com/channel/UCPBxbHFswHzCROZG-kSKOUQ
• LinkedInlinkedin.com/company/andromedainvestors

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 Andromeda Capital Management