Former ING Executive to Launch Macro Hedge Fund

Alfonso Peccatiello, a former senior investment executive at ING Germany, is set to launch his macro hedge fund, Palinuro Capital, on January 13, 2025. Based in Amsterdam, the new firm will begin operations with $50 million in capital.

Peccatiello, who previously led ING Germany's investments and managed a $20 billion portfolio, will serve as the chief investment officer of the fund. His team includes co-founder Roozbeh Haghighi, who will lead trading and operations, and Vincenzo Brigandi, who will oversee quantitative analysis.

The fund will focus on interest rates and FX derivatives, an area in which Peccatiello has considerable expertise. Reflecting on his prior experience at ING, where he spent over seven years, Peccatiello noted, "It helped me gain a tremendous experience in managing large portfolios with a focus on fixed income and derivative."

In addition to his hedge fund efforts, Peccatiello became widely known in 2022 with the launch of The Macro Compass, an institutional macro research firm. His social media presence, particularly on his X account (@MacroAlf), where he shares market insights, has garnered him a substantial following of 446,000. Peccatiello emphasized the importance of social media in his fundraising efforts: "LinkedIn, podcasts and my media appearances have been a huge force behind my asset raising efforts. Most allocations come from inbound approaches from LPs who read my macro posts or listen to my interviews."

The hedge fund launch comes at a time when the number of new hedge fund managers has been in decline. According to data from Preqin, 2024 saw just 123 new hedge funds launched, compared to a peak of 697 in 2017. Despite the challenges, Peccatiello remains confident about his venture. "Launching a hedge fund is hard, but not impossible. Plan it like a business. Share your story, have a unique angle, and be honest," he stated.

Peccatiello's new venture, Palinuro Capital, is poised to enter a competitive and evolving hedge fund market, with its strategic focus on macroeconomic trends and transparent, direct communication with its investors.