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Meet the Team


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Niccolò Ballarati

Portfolio Manager

Niccolo Ballarati is the portfolio Manager for the Global Financial Fund and the Global UL Equity Strategy and has more than 15 years of experience in public equities investing


Niccolo worked at UBS from 2000 to 2006 as Equity sales covering pan European Asset Manager and UK based Hedge Fund


In 2006 Niccolo joined Fenician Capital as portfolio manager running a long-short equity portfolio


In 2010 Niccolo moved to Brazil where he joined Patria Investimentos becoming responsible for public Equities strategies managing a long only and a long-short equity fund


In 2016 Niccolo moved back to London joining Tenax Capital. Niccolo holds a university degree in Economic History and Econometric from the University of Florence

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Kostas Feruliovas

Equity Analyst

Kostas is part of the investment team of the Financial Equities Fund.

Prior to Tenax, Kostas worked as a generalist Equity Research Analyst for several companies including a Norwegian investment Bank Norne Securities. Kostas holds a BSc in Economics from Vilnius University and graduated with a Master of Science degree in Finance from Vrije Universiteit Amsterdam in 2014.

Kostas continues to improve his qualifications and has passed all three exams required to earn the CFA designation as well as the CISI exam.

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Dariusz Ubik

Equity Analyst

Dariusz joined Tenax in November 2022 and is a part of HealthCare Fund.

Prior to that, he has been working for over five years (an a year as a contractor) for Kepler Cheuvreux where he was part of European Pharmaceutical team, covering small and mid-cap companies from the healthcare universe and providing support on large cap European Pharmaceuticals. Previously, he has also worked for UBS.


Dariusz holds MA in Finance and Accounting from University of Cracow University of Economics

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