# Alma Capital

Alma Capital is an Asset Manager based in London, London, Luxembourg.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** London, London, Luxembourg
- **Region:** Europe
- **Address:** Luxembourg City, Luxembourg
- **Founded:** 2016
- **Assets under management:** $1B to $5B (Altss estimate)
- **Website:** www.almacapital.com

## Regulatory record

- **CRD number:** 332579
- **SEC file number:** 802-131217
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/332579

## About

Alma Capital is a Luxembourg based independent fund management company and one of the largest independent fund platforms. It offers liquid alternative and long only UCITS as well as private assets strategies. The firm partners with talented investment managers, provides fund wrapping and regulatory functions, and actively distributes to European institutional investors.

## Sectors

- Private Credit
- Real Estate
- Hedge Funds
- Secondaries & Special Situations
- Private Equity

## Offices

- Paris, France

## People

- Laurent Kenigswald — Founder and Chief Investment Officer
- Pierre-Yves Moissonnier — Co-Founder and Managing Partner

## Questions

### Who runs investment decisions at Alma Capital?

Laurent Kenigswald, the founder, serves as Chief Investment Officer and leads the investment committee. Pierre-Yves Moissonnier, co-founder and Managing Partner, oversees business development and strategic partnerships. The firm operates a lean partnership structure where senior investment professionals vet each underlying manager and strategy before structuring a Luxembourg vehicle around it.

### How does Alma Capital source the managers it partners with?

Alma Capital relies on the senior team’s proprietary networks built during prior roles at global financial institutions, rather than on open RFP processes or intermediary pitches. The firm targets specialized managers in private credit, real estate, and hedge funds who have strong track records but lack European regulatory infrastructure. Manager relationships are often exclusive within the European institutional channel.

### What investment stages does Alma Capital typically target?

Alma Capital does not target venture or growth equity stages in the traditional sense. Its focus is on mature, income-generating assets — mid-market direct lending, core-plus and value-add real estate, hedge fund strategies, and secondaries transactions. The firm seeks strategies where structuring complexity and regulatory barriers create an information advantage, rather than early-stage venture risk.

### Which sectors does Alma Capital explicitly avoid?

The firm explicitly avoids venture capital, technology startup investing, commodity trading, and strategies heavily dependent on short-term public market beta. Its emphasis on structured credit, real assets, and absolute-return hedge fund strategies reflects a consistent preference for downside protection and contractual cash flows over speculative upside.

### How does Alma Capital’s Luxembourg domicile affect its operations?

Luxembourg is central to Alma Capital’s model. The jurisdiction offers a well-understood regulatory framework (UCITS and AIFMD) that European institutional investors recognize and trust, which makes capital-raising from insurers and pension funds significantly easier. It also provides tax neutrality and a deep pool of fund administration and legal services that allow a lean firm to operate at institutional scale.

## Related profiles

- [allygatr](https://altss.com/profile/allygatr)
- [Almada Group](https://altss.com/profile/almada-group)

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Last updated: 2026-08-11T15:06:04.815Z

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