Opportunistic Investing with Innovative Active Risk Strategies

Black Harbor is a privately owned hedge fund with extensive experience in macro multi-asset investing delivering superior risk-adjusted returns through market cycles and volatility regimes, with an emphasis on capital protection and active risk management expertise 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 Portfolio Risk Strategy

The core of our portfolio strategy is built on optimized active risk management. We believe a robust portfolio construction framework begins with a deep understanding of the unique risk profiles associated at the macro, sector, single-asset, and fund liquidity levels, designed with dual scenario-planning purpose to proactively mitigate potential impacts while identifying risk-driven dislocation alpha opportunities.

Our commitment to risk management allows us to pursue sustainable growth with a high degree of opportunistic flexibility while maintaining a disciplined investment approach to navigate market complexities effectively, preserve capital and enhance returns.

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Leadership

Alfonso Diaz, CFA

Founder & Chief Investment Officer

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.

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We believe our ethos of innovation intersecting active risk management shapes our differentiated strategy. Discover how we're defining the future of investing with forward vision, and precision.