Penso Advisors

Penso Advisors LLC, established in 2010, is a New York-based manager and advisory boutique specializing in discretionary macro and risk mitigating strategies. Our niche specialty is derivatives structuring/trading and systemic risk management. We manage discretionary global macro strategies as well as bespoke high convexity hedging portfolios for sophisticated institutional money managers and allocators. Our clients include some of the largest hedge funds, corporate and public pension plans, endowments/foundations, fund of hedge fund groups and family offices.

The Penso team, led by Ari Bergmann, has been in the forefront of derivatives innovation and trading and helping investors and corporations deal with difficult to manage risks for over 25 years. Our business model is predicated upon delivering our expertise on a bespoke basis for sophisticated institutional clients.

We specialize in a niche space within discretionary global macro and manage three strategies.

  1. Global Macro Opportunities (GMO)– A high convexity, capital efficient, discretionary global macro strategy.
  2. Negative Correlated Alpha (NCA)– An alpha based, high convexity risk mitigation strategy implemented on a bespoke basis for institutional investors.
  3. Risk Dislocation Opportunity (RDO)– A recently launched (October 2017), opportunistic negative correlated macro strategy whose goal is to take advantage of what we believe is a multi-asset class risk and vol repricing coming within the next 1-2 years.