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Apolis S.A.M.
Apolis S.A.M. is a Monte Carlo-based single-family office founded and led by Evgeny Denisenko, whose background in investment banking at Sberbank CIB informs...
Apolis S.A.M.
Apolis S.A.M. is a Monte Carlo-based single-family office founded and led by Evgeny Denisenko, whose background in investment banking at Sberbank CIB informs the firm's credit-heavy posture. The office operates alongside CIO Ilya Gertsberg, who brought experience from Goldman Sachs and Lazard, and Principal Yulia Denisenko, a former diplomat. The wealth origin is not publicly disclosed, and the family does not market a branded operating company origin story. The firm deploys capital through direct lending and real estate credit, with a geographic reach that spans Europe, North America, and Southeast Asia. Known positions include a residential fix-and-flip portfolio in Milan, a land development loan in Monaco and broader Europe, an Indonesian oil project credit, and a Canadian medical cannabis credit. On the fund side, Apolis has committed to US Small Business Investment Company (SBIC) funds, indicating a willingness to access US lower-middle-market exposure through government-backed vehicles. The strategy blends opportunistic, collateralized lending with niche sector exposure. The team includes Alexey Zarochentsev, whose background covers Big Four accounting and New York hedge funds, suggesting in-house structuring and risk capabilities. Evgeny Denisenko participates in the Forbes Finance Council, and the firm maintains memberships in the Urbano Network's Finance and Build communities and the Alternative Credit Council, where it has been an active speaker. These affiliations position Apolis within London and European private credit circles despite its Monaco domicile. Unlike multi-strategy family offices that layer private equity and venture on top of a credit book, Apolis appears structurally committed to lending as its primary engine. The mix of hard-asset-backed European loans, emerging-market resource credit, and regulated US fund commitments reflects a structure where CIO Gertsberg and the Denisenkos can underwrite a Milan apartment renovation with the same rigor as a Southeast Asian energy credit, without the constraints of a formal institutional mandate.
General information
Firm type
Single Family Office
Year founded
2017
AUM
Undisclosed
Location
Region
Europe
Country
Monaco
City
Monte Carlo
Corporate office
Monte Carlo, Monaco
Principals
Evgeny Denisenko
Managing Principal and Head of Private Investments
Ilya Gertsberg
Chief Investment Officer
Yulia Denisenko
Principal
Sector focus
Frequently asked questions
Who runs investment decisions at Apolis S.A.M.?
Evgeny Denisenko oversees the firm as Managing Principal and Head of Private Investments. Ilya Gertsberg, the Chief Investment Officer, leads investment execution and structuring. Yulia Denisenko is also a Principal at the firm, according to official communications.
How concentrated or diversified is Apolis S.A.M.'s direct lending book?
The known portfolio spans residential real estate debt in Milan, land development financing in Monaco and Europe, an Indonesian oil project credit, Canadian medical cannabis lending, and US SBIC fund commitments. This suggests a deliberately diversified, opportunity-driven book rather than a concentrated single-sector strategy.
Does Apolis S.A.M. participate in fund commitments or only direct deals?
While the core activity is direct lending, the firm has committed capital to US Small Business Investment Company funds. This indicates a hybrid approach, using regulated fund structures to access US lower-middle-market credit alongside its direct origination in Europe, Asia, and Canada.
Which sectors does Apolis S.A.M. explicitly lend into?
The firm's disclosed exposures include residential real estate in Italy, European land development, oil and gas project finance in Indonesia, and medical cannabis in Canada. It also accesses US small business credit through SBIC funds. There is no public statement indicating sectors the firm explicitly avoids.
What is Apolis S.A.M.'s known posture on co-investments alongside external GPs?
The firm's membership in the Alternative Credit Council and Urbano Network's Finance community suggests an openness to co-investment and club-style deal participation, though no specific co-investment partners have been publicly named. Its SBIC fund commitments show a willingness to invest alongside regulated US fund managers.
Is Apolis S.A.M. structured as a single family office or does it operate more like a private credit fund?
Apolis is structured as a single family office based in Monaco, with the Denisenko family principals at its core. Despite this structure, its direct lending activity—spanning multiple continents and asset types—resembles the work of a specialized private credit manager, albeit without external limited partners.
How is Yulia Denisenko's foundation related to the family office?
Yulia Denisenko is Principal at Apolis S.A.M. and separately the founder of Yulia's Magic House, her philanthropic initiative. While the exact operational boundary between the two is not publicly detailed, the separation of a principal's charitable foundation from the family office's lending activities is a common governance pattern among single-family offices.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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