Welcome to Tenax Capital

About Us

Tenax Capital is a boutique Asset Management firm with offices in London, Milan, and a representative in Frankfurt. We adopt a highly disciplined investment philosophy underpinned by rigorous fundamental research conducted by experienced and dedicated experts.

Our strategies include Fixed Income, Private Debt, Insurance-Linked Securities (ILS), and Equity.

Massimo Figna founded Tenax in 2004 and in 2020, Portugal's largest insurer, Fidelidade, took a majority stake in the company. Massimo has remained a significant shareholder in the company.

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Our Strategies

Fixed Income

The Tenax Dynamic Income Fund is an open-ended, actively managed fund with daily liquidity, investing mainly in global fixed income with minimal equity exposure, and focusing on mature markets.

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Private Debt

The Tenax private debt funds provide bespoke and flexible capital solutions to

Northern European and Italian family and owner-managed SMEs. Teams are based in Frankfurt, London, and Milan.

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Insurance-Linked Securities (ILS)

Insurance-Linked Securities are an asset class that has demonstrated its diversification from traditional financial markets and the broader economy. ILS can protect investors against inflation and interest rate shocks.

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Equity

The Challenge Financial Equity Fund invests in Global Banks, Insurance, Payments, and Fintech companies, combining bottom up and top down analysis. The Global Equity Fund invests in companies with a strong global footprint and industry leadership across different sectors.

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