Activum SG Capital Management

Graham Frank serves as CEO and Managing Partner, overseeing strategy and capital deployment. Anthony P. Moore is the Chief Investment Officer, responsible for portfolio construction and deal execution. Both have been with the firm since its inception in 2000.

The firm leverages a network of European operators, insolvency practitioners, and bank origination desks to source off-market distressed assets, particularly in Italy, Spain, and Germany. This avoids competitive auction processes and allows for structured entry points, especially in less transparent markets.

It operates as an alternative asset manager with a multi-family office overlay, regulated under Luxembourg's AIFM framework. The firm manages capital from a network of European family offices and institutional investors, functioning more like a specialized fund manager than a single-family office.

Both. The firm manages closed-end funds, separate accounts, and co-investment SPVs. Its closed-end vehicles, such as the Real Estate Opportunities Fund IV (closed at €450M in June 2024), sit alongside direct deals for core families.

Activum SG targets asset-backed opportunities across the capital structure — distressed debt, value-add real estate, senior and mezzanine credit, and infrastructure. It focuses on special situations and operational turnarounds rather than development-stage projects.

The firm does not invest in early-stage venture, pure-play technology, or unsecured consumer lending. Its focus remains on real assets and credit with tangible collateral, particularly in European real estate and infrastructure.

Wealth origins are not publicly attributed to a single family or individual. The firm's capital base is drawn from a consortium of European family offices, high-net-worth individuals, and institutional LPs, with the firm itself functioning as a multi-family office rather than a single-family entity.