Navigating Global Macro Alpha
OPPORTUNISTIC EDGE | DISCIPLINED STRATEGY
PERFORMANCE-FOCUSED
— Where converging macro paths intersect with conviction —
Navigating Global Macro Alpha
OPPORTUNISTIC EDGE | DISCIPLINED STRATEGY PERFORMANCE-FOCUSED
Where converging macro paths intersect with conviction
Our Firm
Black Harbor is a global macro hedge fund focused on opportunistic and relative value strategies targeting uncorrelated absolute returns across macro asset classes in US, Europe, and Asian markets.
Our investment strategy blends multi-strategy approaches using fundamental and quantitative styles with rigorous portfolio risk-optimization designed to drive consistent alpha across market cycles.
We thrive on ideas to deliver excellence and challenge conventional wisdom in a relentless pursuit to discover convex opportunities.
17+ Years Expertise
Multi-Asset Derivatives Trading, Investment Strategy, Macro Risk Leadership
Multi-Asset Breadth
Equities, Credit, Fixed Income & Rates, Commodities, Index Derivatives
1 Strategy | Multi-Dimensional Lens
Long/Short Relative Value, Tactical Allocation, Opportunistic Alpha, Systematic Risk Factors
Investment Strategies
Black Harbor Multi-Asset Macro Fund
The flagship fund invests in long/short relative value opportunities in global equities, corporate credit, interest rates, commodities and derivatives.
Our approach blends Strategic & Tactical Asset Allocation Strategies with a risk-optimized opportunistic overlay to capture asymmetric alpha opportunities in all market cycles.
Equities - Thematic Sectors, Index Volatility
Credit - Cross-Capital Dislocations, Credit Indices
Fixed Income - Rates Yield Curve Basis, Currencies
Commodities - Crude Oil, Natural Gas, Metals
Blackwoods Opportunistic Alpha
Complements the macro portfolio as a systematic tactical overlay focused on opportunistically capturing market dislocations during periods of event-risk volatility.
We take a tactical approach with quantitative applications to employ asymmetric trades in global futures and options markets.
Active Risk Management Precision
Robust Portfolio Construction
The Portfolio Strategy is engineered to outperform across market cycles with a deep understanding of dynamic risk/reward drivers spanning top-down macro factors, sector, and single-asset layers.
Optimized Risk Strategy
Multi-dimensional scenarios, quant risk-stressing frameworks, hedging strategies, and disciplined volatility management embedded at portfolio-level designed to navigate market risk while identifying opportunistic risk-driven dislocations.
Strategic Capital Growth | Opportunistic Flexibility | Volatility Resilience | Enhanced Risk-Adjusted Returns
Leadership
Alfonso Diaz, CFA
Founder & Chief Investment Officer
Alfonso founded Black Harbor Capital in 2025 and currently serves as the firm’s Chief Investment Officer. He is a seasoned investor with deep expertise in portfolio management and multi-asset trading across global markets, with a successful track record navigating volatile market cycles since the GFC, building a reputation for strategic leadership and innovative investment execution.
His investing and risk management versatility spans a wide range of strategies including Long/Short Equity, Global Macro, Systematic Arbitrage, ETF Indexing, Opportunistic Credit, and Treasury Optimization. Alfonso earned a long-standing reputation for identifying asymmetric opportunities, executing innovative risk-management strategies, and providing strategic leadership on CIO Investment Committees and Global Risk Committees.
Prior to founding Black Harbor, Alfonso led portfolio risk strategy, derivatives hedging and opportunistic macro for Blackstone’s Global Credit Division ($354B AUM). He partnered with CIOs, COOs, and CFOs in launching flagship funds such as BCRED Private Credit Fund and Multi-Asset Credit Fund, overseeing exposure across liquid credit and alternative private credit.
Alfonso began his career at Goldman Sachs as a Derivatives Trader managing Special Situations and Macro Index Arbitrage strategies (~$50B AUM). He later joined Macquarie Capital to build the firm’s Asian Synthetic Trading business, gaining expertise across China, India, Japan, Korea, and Taiwan. Subsequently joined Société Générale in Equity Derivatives Trading, focusing on synthetic portfolio financing for hedge fund CIOs and Treasurers .
Alfonso earned a BBA in Corporate Finance and Risk Management, graduating Summa Cum Laude with Highest Honors from St. Mary’s University, and holds a Chartered Financial Analyst (CFA) designation.