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Apolis S.A.M.
Evgeny Denisenko founded Apolis S.A.M. after his tenure at Sberbank CIB, anchoring the office in Monaco.
Apolis S.A.M.
Evgeny Denisenko founded Apolis S.A.M. after his tenure at Sberbank CIB, anchoring the office in Monaco. He is joined by CIO Ilya Gertsberg, who previously worked at Goldman Sachs and Lazard, and by Yulia Denisenko, a former diplomat who also runs a philanthropic initiative, Yulia's Magic House. The team includes Alexey Zarochentsev, whose background spans Big Four accounting and New York hedge funds. The wealth origin has not been publicly detailed. The firm deploys capital through a direct-lending model, targeting credit opportunities where origination is relationship-dependent and underwriting rewards local structuring skill. Known portfolio exposures include a Milan residential fix-and-flip portfolio, a European land-development loan tied to Monaco, a Canadian medical cannabis credit facility, and a US Small Business Investment Company fund commitment. The office has also provided credit to an Indonesian oil project. The geographic spread—Italy, Monaco, Indonesia, Canada, and the United States—reflects a mandate unconstrained by regional silos. The Firm is an active participant in the Alternative Credit Council and AIMA, and Evgeny Denisenko holds membership in the Forbes Finance Council. The office maintains a lean structure, consistent with a family-led platform that underwrites each position directly. Beyond the investment book, the principals engage with professional networks including the Urbano Finance and Build communities. In 2024, the firm continued to participate in Alternative Credit Council forums, reinforcing its positioning within European private-credit circles. No adjacent vehicles, such as a philanthropic foundation beyond Yulia's Magic House, are publicly disclosed. The structural differentiator is a Monaco-based credit shop that blends hard-asset lending with cross-border specialty finance—a model that relies on the principality's role as a capital-intermediation hub for European and emerging-market deal flow. The team's mix of Russian and Western institutional backgrounds creates a sourcing pattern distinct from both Anglo-American credit funds and single-jurisdiction European family offices.
General information
Firm type
Single Family Office
Year founded
—
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
Alexey Zarochentsev
Team Member
Sector focus
Frequently asked questions
Who runs investment decisions at Apolis S.A.M.?
Evgeny Denisenko serves as Managing Principal and Head of Private Investments, setting overall strategy. Ilya Gertsberg, the Chief Investment Officer, oversees portfolio construction and deal underwriting, drawing on his previous roles at Goldman Sachs and Lazard. The lean team structure means both principals are directly involved in credit evaluation.
How does Apolis S.A.M. source its deal flow?
The office leverages its Monaco location—a private-banking hub—alongside the principals' professional networks. Evgeny Denisenko's Forbes Finance Council membership and the firm's involvement in Urbano's Finance and Build communities provide origination channels. The Alternative Credit Council and AIMA affiliations also connect the firm to institutional private-credit managers and co-investors.
What is Apolis S.A.M.'s investment strategy?
The firm pursues a direct-lending strategy focused on niche credit opportunities. Asset classes include residential real estate debt (Milan fix-and-flip portfolio), land-development loans, oil-project credit, medical-cannabis credit, and US SBIC fund commitments. The common thread is relationship-sourced, hard-asset-backed or specialty-finance lending where structuring complexity deters conventional bank lenders.
Does Apolis S.A.M. participate in fund commitments or only direct deals?
The firm primarily executes direct loans, but it has committed capital to US Small Business Investment Company funds, demonstrating willingness to invest through fund structures when they offer exposure to origination networks the office cannot replicate directly. The majority of the known portfolio consists of self-originated credit positions.
Where does the underlying wealth come from?
The source of the family capital has not been publicly disclosed. Evgeny Denisenko's professional background includes investment banking at Sberbank CIB, but the office has not published details of the wealth-creation event or lineage behind Apolis S.A.M.
What geographies does Apolis S.A.M. target?
The portfolio spans Italy (Milan residential), Monaco and broader Europe (land-development loan), Canada (medical cannabis credit), Indonesia (oil project), and the United States (SBIC funds). The office does not appear constrained by regional mandates, evaluating credit on a deal-by-deal basis wherever origination relationships exist.
Does Apolis S.A.M. maintain philanthropic structures?
Yulia Denisenko, a principal at the firm, founded Yulia's Magic House, a philanthropic initiative. It is not publicly clear whether this operates as a separate legal entity or is funded through the family-office structure. No other philanthropic vehicles are disclosed.
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