Tommaso Sanzin

HBPKK is an active manager which aims to achieve long-term absolute returns by understanding the drivers of risk of underlying strategies and managing them through a rigorous portfolio construction and management process. The firm seeks build consistent and stable returns within defined volatility boundaries by constructing reasonably concentrated portfolios. They take a long-term approach to portfolio construction, dynamically adjusting exposures when they witness fundamental changes in the macro environment or in the performance or process of underlying managers, engaging with them to improve governance standards and the quality of information/transparency. HBPK focuses on qualitative and quantitative interpretations of fat tail risk drivers. They have a natural cynicism towards leverage and conduct thorough operational due diligence to understand the operational risks within a hedge fund, seeking to understand distressed and event-driven funds where they believe there is a clear premium for investing in transaction-based strategies.