Opportunistic Edge. Active Risk Strategy. Superior Returns.

At Black Harbor, a privately owned hedge fund firm, we navigate global markets with precision — leveraging global macro multi‑asset strategies to deliver consistent, risk‑adjusted returns through market cycles and volatility regimes. Built on capital preservation and active risk-optimization at the core of our philosophy.

Investment Strategies

    • The flagship fund invests in long/short relative value opportunities across asset classes in US, Europe, and Asian markets, including equities, credit, interest rates, currencies, commodities, macro indices 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.

    • The strategy complements the macro portfolio as a tactical overlay focused on capitalizing mispricing dislocations caused by market volatility and illiquidity premia, seeking absolute returns uncorrelated to any market beta benchmark.

    • We take a tactical approach with quantitative applications to employ risk-optimized trades in global futures and options derivative markets.

Active Risk Management Precision through Market Cycles

The core of our portfolio strategy is built on optimized active risk management. We engineer robust portfolio construction frameworks with a deep understanding of dynamic risk profiles spanning top-down macro, sector, and single-asset layers. Multi-dimensional scenario planning ensures we mitigate potential downside while capturing volatility-driven alpha in dislocated markets.

The Outcome: Strategic capital growth, opportunistic flexibility, resiliency through volatility, and enhanced risk-adjusted returns.

Leadership

Alfonso founded Black Harbor Capital in 2024 and is currently the firm’s Chief Investment Officer and Head of Risk Trading. Known for skilled expertise in portfolio management and trading across asset classes globally from US to complex emerging Asian markets, managing risk through challenging volatility cycles since the GFC, deep versatility across strategies (Long/Short, Global Macro , Systematic Arbitrage, Beta Indexing, Portfolio Risk & Treasury Optimization), earned a career long reputation for successfully navigating market opportunities and developing innovative investment strategies alongside senior executives with leadership roles in CIO Investment Committees and Global Risk Committees.

Prior to founding Black Harbor, Alfonso led Blackstone’s portfolio risk strategy and opportunistic macro strategies for the Global Credit Division ($354 Billion AUM) across all liquid and alternative private credit strategies, and partnered with Chief Investment Officers and Global COOs/CFOs to assist in launching the firm’s first flagship funds (BCRED Private Credit Fund & Multi-Asset Credit Fund).

Alfonso began his career at Goldman Sachs as a Derivatives Trader focused on Special Situations and Macro Index Arbitrage Strategies (~$50 Billion AUM), before moving to Macquarie Capital to spearhead the Asian Synthetic Trading business building an expertise across China, India, Japan, Korea, and Taiwan markets. Thereafter joined Societe Generale’s Global Equity Derivatives Trading business focused on synthetic portfolio financing opportunities for CIOs and Treasurers at global macro and long/short equity hedge funds.

Alfonso received a BBA with Summa Cum Laude Highest Honors in Corporate Finance and Risk Management at St. Mary’s University, and achieved the CFA Chartered Financial Analyst designation.

Alfonso Diaz, CFA

Founder & Chief Investment Officer

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