Sunday June 7, 2020

Italian hedge fund has built up €15m stake in Glenveagh

Helikon Investments, founded last year, has a 3.07 per cent stake in the Irish house building company which has closed all its building sites in accordance with government guidance on Covid-19

Barry J Whyte

Chief Feature Writer

@whytebarry
26th April, 2020
Federico Riggio, while still with Julius Baer, previously described his long-term approach to equities as favouring “companies that I believe are under-priced for the profit and growth that they deliver”

An Italian hedge fund that spun out of German bank Julius Baer last year has built up a nearly €15 million stake in Irish housebuilder Glenveagh, despite construction being stalled across the country.

Helikon Investments was founded late last year by Federico Riggio, Michele Fiumara, David Grazzini, Vittorio Villa and Flavio Russo, who had previously worked in Julius Baer’s Kairos Pegasus fund together.

Reports at the time in business newswire Bloomberg said that...

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