Core Focus
We are a UK-based investment manager focused on a highly disciplined approach deployed across credit, equity and macro strategies
Capital Preservation
Capital preservation is key to our investment strategies. We focus on trading that provides capital appreciation, but also look at more illiquid longer term carry opportunities.
Experienced Management Team
Composed of seasoned investment professionals, our specialist team has a multi-firm track record of achieving risk adjusted excess returns in global markets,delivering longer-term performance for our clients.
Portfolio Management
Active portfolio and risk management, including appropriate hedging, downside protection, and use of leverage, whilst incorporating specific fundamental analysis and experienced trading capacity to differentiate ourselves from our peers.
Meet the Team
Colin Webb
Senior Partner
Colin founded Almace Asset Management in July 2020. He has spent over 30 years working in differing senior roles at several European investment banks covering and interacting with some of the largest buy-side institutions in the credit market.
Colin started his career at Hambros Bank, and subsequently went on to spend time at Barclays and BNP before joining Deutsche Bank where he resided for nearly 18 years, eventually running their financials credit trading book as a Managing Director.
Before joining the buy side, Colin ran the financials pod at Commerzbank in both London and Frankfurt, but has spent the latter part of his career working on the family office side of the business, setting up a fixed income franchise and providing both micro and macro analysis to derive appropriate investment opportunities for the portfolio management team, and helped setting up a full trading operation for a Swiss Investment Manager
Mark George
Partner
Mark has extensive alternative asset management, risk management and regulatory compliance experience acquired in industry-leading investment companies.
He qualified as a Chartered Accountant with KPMG, before working in a number of financial services firms.
He has spent the past 20 years in CFO, COO and senior management positions working for a range of hedge fund managers.
Previous roles include CFO at Soros Funds Limited, CFO and COO roles at large family office structures, setting up cross-jurisdictional fund structures including UCITS and Alternative Investment Funds, and Founding Partner at Ruby Capital Partners, an equity multi-strategy hedge fund.
Yaron Bull
Portfolio Manager Equity
Yaron began his career at a stock broker and trader, advising clients on investments as well as executing trades. He later moved on to work as a proprietary trader concentrating on UK markets at Cheviot Capital. In 2004 Yaron joined Evolution Group as a market maker dealing in FTSE 250 stocks. Within 2 years he was running his own book of over 200 stocks, mainly in the technology and telecoms sectors.
Yaron joined Darwin Strategic in 2012 to head up their trading division, where he expanded their trading network as well as setting up a new back office structure. He also played a key role in the building and launching of PrimaryBid.com, the world’s first crowdfunding platform dedicated to democratising access to share placements.
In 2016 Yaron joined Cazadores Investments as a Senior Portfolio Manager responsible for UK equity investment strategies. His focus was on equity and equity linked investments, and special situation investment opportunity.
Yaron brings over 20 years’ experience in UK equity markets with an in depth knowledge of AIM, which gives him a competitive advantage when making and structuring investments.
Andrew Dennan
Investment Advisor
In 2013 Andrew moved to Darwin Strategic Limited, an alternative investment fund manager, where he took up the role of Head of Investments. Andrew was instrumental in origination, structuring, negotiating and executing on the firms UK and European investment mandate, which focused on making proprietary equity/debt/convertible investments into small and mid cap listed growth issuers. He was also a founding shareholder of PrimaryBid.com, the world’s first crowdfunding platform dedicated to democratising access to listed issuer share placements.
Andrew has also had direct experience as a director of listed issuers. He was a founding shareholder and director of Alpha Growth Plc, an asset manager specialised in longevity assets, which admitted to trading on LSE Standard List in 2016. In 2018 he was appointed Chief Financial Officer of Coro Energy Plc, an AIM listed international O&G E&P company, where he was instrumental in raising the Company’s £14 million merger and readmission equity. In 2020 Andrew was appointed as Chief Executive Officer of LSE AIM listed natural resources company Ascent Resources Plc.
Andrew brings over 15 years of capital markets, investment management and listed issuer experience in London. He has deep experience in arranging, negotiating, structuring and executing on a range of bespoke investment structures both on the side of investor and issuer, giving him a deep knowledge of the needs and sensitivities for both sides of the deal table. Andrew also holds a BSc. (Hons) in Actuarial Science from CASS Business School of City, University of London.
Andrew Moed
Portfolio Manager Credit
Andrew joined Almace in 2023 with a focus on credit and index credit derivatives.
Previous to joining Almace, he spent the last 3 years as a portfolio manager for Lake Geneva Investment Partners, a quantitative based multi-asset fund manager.
He brings more than 25+ years of portfolio management and trading experience with roles at buy side and sell side institutions.
Andrew graduated from the University of Florida with a B.S. in finance.
Barry O’Connell
Portfolio Manager Credit
Barry O’Connell has worked in capital markets for over 25 years.
The first ten years of his career were spent at Merrill Lynch, as a Managing Director, where he was responsible for Illiquid Credit Trading, Investment Grade Credit Trading and Asset Repackaging.
He then spent two years working as a Portfolio Manager at Vega Asset Management, establishing a Credit Opportunities Fund.
In 2012 he joined Autonomous Research where he co-founded the Credit division. Autonomous Research is a highly respected business providing Investment Research on Financial Institutions. Autonomous became a part of Alliance Bernstein in 2019 and Barry worked there until April, 2024 before joining Almace Asset Management.
Barry’s experience on both the buy and sell side gives him a unique insight of Capital Markets.
He has traded across asset classes in Primary, Secondary and Derivates markets.
Edward Hiorns, CFA
Analyst/Assistant Portfolio Manager
Ed started his career with Investec Bank Plc in London, based in the corporate and private banking analytics team. There he spent 3 years modelling and reporting on both trading and banking book transactions across a broad range of sectors and products.
Ed subsequently spent 3 years at iAM Capital Group Plc, an alternative investment manager, ultimately leading a small investment team investing funds mostly in private markets across Real Estate, Green Energy, and Fintech sectors, with a focus on value-add investment management and opportunistic investments in Europe, USA, Israel and the UK through deep fundamental analysis.
He has analysed upwards of €1bn of investment opportunities across sectors and structures, and led the buy-side acquisition process for multiple large hospitality acquisition projects.
Ed holds an M.Eng. in Materials, Economics & Management from the University of Oxford, and is a CFA charterholder.
