Fees and Compensation — Form ADV Part 2A (3/23/2026)
[Brochure]
Item 5 - Fees and Compensation
Aside from three accounts with one Client, Algebris US is compensated by its UK affiliated entity,
an SEC Exempt Reporting Adviser, Algebris UK in line with transfer pricing rules set in place by
the Organisation for Economic Co-operation and Development (“OECD”). All fees paid by
Algebris UK to Algebris US are paid by Algebris UK directly and not by any Advisory Clients.
Algebris UK maintains the relationship with all Advisory Clients, with the exception of one Client,
and fees are paid by Advisory Clients to Algebris UK. For the one noted Client above, Algebris US
is the contracting party, and all fees are paid by the Client directly to Algebris US.
Algebris UK generally receives a management fee based on a percentage of assets under
management and a performance-based fee (i.e. a fee based on a share of capital gains on or capital
appreciation of the assets under management) from each of its Advisory Clients. Algebris UK,
however, retains the discretion to waive or reduce fees and expenses charged by Algebris UK to the
Advisory Clients. A full description of all fees and expenses permitted to be charged to the Advisory
Clients by Algebris UK is contained in the respective IMAs.
Account Minimums and Types of Clients — Form ADV Part 2A (3/23/2026)
[Brochure]
Item 7 - Types of Clients
As previously described in Item 4, Algebris provides investment advisory services to Funds and
Clients including investment management services to institutional clients, both U.S. and foreign.
Interests in the Funds managed and distributed by Algebris are generally available to U.S. investors
who are Accredited Investors and Qualified Purchasers as those terms are defined under Regulation
D and the Investment Company Act of 1940, respectively. Investment advice is provided directly
to the Funds and not individually to the Funds’ investors and investors may not impose any
investment requests or restrictions on the Funds.
The Algebris Funds are primarily UCITS structures that offer daily liquidity upon one business
day’s notice.
Algebris has agreements with certain investors which modify the terms contained in the relevant
governing documents of the Funds, but do not grant any preferential treatment with regard to fees,
liquidity, or transparency to any investors.
Subject to the discretion of Algebris to accept less, the minimum Fund investment ranges between
EUR 500,000 and EUR 50 million, depending on the Fund and share class invested in. Although
the Company has the authority to accept a lesser amount, the minimum investment for a separately
managed account is generally US$100 million.
Separately managed account Clients may place reasonable investment objectives or restrictions on
the management of their accounts as agreed upon by Algebris. Such Clients may terminate their
advisory service at any time in accordance with the provisions of the IMA.