Our Firm

 

Carrhae Capital LLP is an independent investment partnership headquartered in London, regulated by the FCA and registered with the SEC. Carrhae Capital (DIFC) Limited is regulated by the DFSA with a registered office address at Unit 1606, Level 16, Index Tower, Dubai International Finance Centre, Dubai, United Arab Emirates.

Carrhae Capital was founded by Ali Akay in 2011 after a ten-year career as a portfolio manager (SAC, HBK, Goldman Sachs Principal Strategies) and the firm as at 30 June 2024 has a staff strength of 18, of which 13 are investment professionals and include research team members present on-the-ground in Brazil, China, India and the UAE.

The firm aims to generate absolute returns (long-short equities) and alpha (long-only equities), using one investment process, one research engine and one team.

The investment team seek to generate alpha from a large and persistent dispersion in emerging market equities by investing in highly liquid companies that are unique stories, mispriced or offer secular growth in underpenetrated sectors. The investment process begins with a fundamental analysis of companies where significant time and resources are deployed to bottom-up, fundamental research on companies and industries. The process then follows Carrhae’s institutional quality portfolio management tools to allocate capital to an optimal portfolio based on the risk-reward and conviction score of each position.

As at 30 June 2024, Carrhae manages c. US$ 1.8bn across two very distinct strategies:

Long-Short Absolute Return

  • Launched in December 2011

  • Aims to generate absolute returns by investing in 40 to 60 best ideas (long and short)

  • Implements a dynamic portfolio and risk management approach to achieve a low-net

    UCITS

  • Launched in March 2022

  • Applies UCITS regulations on position concentration and instrument eligibility to the offshore Long-Short Absolute Return portfolio

Long Only Emerging Markets

  • Launched in February 2014;

  • Benchmark agnostic, concentrated and focused on capturing alpha by investing in the 30 – 50 best long ideas