Algebris Chair in Long-Term Investment and Absolute Return

Stefano Caselli is the Dean of SDA Bocconi School of Management and he is Full Professor of Banking & Finance at the Department of Finance (since 2007). He was also Dean for International Affairs. He is a member of the SDA Bocconi School of Management Board; a member of the Steering Committee of CIVICA, the University of Social Sciences; a member of the Management Board of CEMS, the Global Alliance in Management Education; Chair for the EMEA Region of PIM, Partnership in International Management; and Executive Secretary of the External Advisory Board for the School of Transnational Governance di EUI, European University Institute in Florence. He is also a columnist and opinion maker on “L’Economia del Corriere della Sera,” and member of the Advisory Board for “Rivista di Politica Economica.”

Joint Purpose

A strong collaboration between Università Bocconi and Algebris gave birth in 2019 to the Algebris Chair in Long-term Investment and Absolute Return. The Chair, established in 2019 as a Term Chair, was transformed in 2021 into a permanent Chair thanks to a major donation to the Bocconi Endowment endowment fund. The Chair is entrusted to Stefano Caselli, Dean for International Affairs and Full Professor in the Department of Finance, and was created to respond to the needs of a new ecosystem in which investors increasingly play a key role, able to unlock the potential hidden in so many projects and sectors to foster growth and at the same time a financial system more connected to the real economy and with a strong positive impact. The goal of the Algebris Chair is to be ambitious and impactful at the same time, stimulating the emergence of a unique Training Camp for Bocconi students, involving top fund managers from around the world. Its purpose is to bring out the potential of young talent to become a future generation of fund managers, capable of mastering long-term investments and making a permanent impact on growth.

Global wealth amounts to six times the world GDP and one third of it is liquid. In the world of low or negative returns and high risk, diversification is the new mantra and the principles of long-term investment and absolute return promise to create a financial system more connected to the real economy and capable of having a stronger positive impact on society.

Stefano Caselli

Algebris Chair in Long-Term Investment and Absolute Return

After the Scholarship program launched in 2017, this new initiative in partnership with Bocconi University confirms our commitment to promoting merit and supporting new generations, they being the future of our country. Our goal is to facilitate access to the new frontiers of asset management for the most talented students, including through a direct experience with an innovative Training Camp. I want to thank Bocconi University, an excellent educational institution worldwide, for such a valuable project which aims enable students interested in medium- and long-term investment strategies to deploy them to support global economic growth.

Davide Serra

CEO, Algebris

In addition to the opportunity for scientific advancement, the partnership with Algebris is also significant because it stems from the initiative of an alumnus and because it highlights a social dimension that should become more and more important in the world of finance.

Gianmario Verona

Rector, Bocconi University

Core Activities

Research

Professor Caselli’s research focuses on the relationship between banking and industry, addressing the issues of bank credit risk management and corporate finance and capital structure. Recently, studies have been conducted on the two sides of dissemination/impact research and academic research. For dissemination and impact research, the general objective has been to address key issues involving policy and decision makers in the sphere of the relationship between companies and financial markets, promoting the role of permanent capital as an important tool for restoring growth and employment. These areas have become even more relevant in the economic context dictated by the COVID-19 pandemic, with Professor Caselli becoming very active in public debate.

Publications

Students

A very popular activity among students is the annual Training Camp, part of the Algebris Chair in Long-Term Investment and Absolute Return’s activities. It aims to develop the potential talent of Bocconi students to create a generation of fund managers capable of mastering long-term and absolute return investment, permanently impacting economic and social growth. The Algebris Chair Training Camp, open to an annual selection of around 40 Bocconi Master of Science students, is an intensive one-week learning experience, with the involvement of top fund managers coming from Algebris and the asset management sector. This intensive experience allows students to tackle real problems and analyze cutting-edge content in the investment market sector.

Communication and Dissemination

The Chair’s activities are enriched by the dissemination of Professor Caselli’s research results thanks to his participation in seminars and conferences organized by the most prestigious academic and institutional organizations. In addition, Stefano Caselli is also the local organizer for the 48th EFA (European Finance Association) 2021 Annual Meeting, one of the most important global conferences for finance scholars.

Links

Thanks to Algebris, a Bocconi Chair Will Study Patient Capital Investment