Scacchi riv-capital


Our philosopy

Risk Management and Counterparties


Investment strategies and their returns are the result of a combination of liquid (largely predominant) and illiquid positions.


We keep a strong Risk Management
surveillance in order to ensure
the best risk-return control.


The strategy is executed using exclusively
tier 1 investment banks.


With all these counterparties we have developed strong relationships with special role for best execution strategies and dedicated credit lines to leverage trading positions.

High Yield Fixed Income/Hybrid 1


The strategy will invest in credit-related instruments focusing primarily, though not exclusively, in mini-bonds, corporate bonds, senior, mezzanine and junior tranches of notes issued in the context of trade receivable securitizations, originated by a diversified pool of American/European corporates and arranged by leading international investment banks.

“Credit-related instruments” are debt securities, instruments and obligations issued by government, non-governmental and corporate entities and issuers.
They include, but are not limited to, government and agency securities, supranational debt securities, corporate bonds, Italian “mini-bonds” issued according to the Legislative Decree of 22th June 2012, n. 83, mortgage-related securities and asset-backed securities, collateralized debt and loan obligations, secured and unsecured performance loans, zero coupon securities, structured products, senior, mezzanine and junior securities, senior secured floating rate and fixed rate loans or debt, second lien or other subordinated or unsecured floating rate and fixed rate loans or debt, convertible debt securities, and derivatives with similar economic characteristics. The strategy may invest in fixed, variable and floating rate instruments, including letters of credit, participations and assignments, of any duration or maturity. In addition, the strategy could indirectly invest in credit-related instruments through SPVs or UCITS or non-UCITS funds.

Our strategy is mainly driven by an alternative approach, flexible, based on management skills and focused on generating alpha returns.
Therefore, the strategy aims to achieve an absolute return despite of market conditions.

High Yield Fixed Income/Hybrid 2


The target is to obtain absolute positive returns by focusing on selected investments liquid/illiquid credit related instruments that are attractive as compared to those of traditional public equity and fixed income markets. Performances in the last 11 years, as per official track record of this strategy pillar, have been extremely rewarding with double-digit top-notch Risk Adjusted Returns. The q-strategy is model driven.


The Fund will seek to attain its investment objective by primarily (though not exclusively) investing in junior tranches of notes issued in the context of trade receivable securitizations, originated by a diversified pool of American/mainly European corporates, and arranged by leading investment banks. Additional, but not with mutually exclusive focus, we will also be devoted to:

  • sovereign, agency and supranational debt securities;
  • corporate bonds;
  • mortgage-related securities and asset-backed securities;
  • collateralized debt and loan obligations;
  • emerging market debt securities;
  • preferred securities;
  • structured products;
  • high quality money market securities and money market funds.
  • mezzanine securities;
  • senior secured floating rate debt instruments,
  • fixed rate loans or debt, second lien or other subordinated or unsecured floating rate debt instruments;
  • convertible debt securities and derivatives with similar economic characteristics, perpetual bonds, high yield bonds;
  • units or shares of collective investment schemes;
Strategy tablet riv-capital sfondo 3

Mutual/Hedge Funds


Selection of top mutual/hedge funds to allow for the best diversification in terms of markets, strategies and asset classes worldwide, by guaranteeing robustness in asset allocation and minimizing portfolio fluctuations.

Performances in the last three years have been outstanding gifting also new subjects of research. In particular, the new emerging themes have been selected by many funds when most of the subjects nowadays were unknown to the most.
Some themes are actual more now than ever i.e. the so-called “futuristic finance”, the innovative healthcare, the “global green project”, the blue oil, etc.

We invest our money seeking diversification in others’ strategies, but always knowing physically the portfolio managers, talking to them, discussing the why and doing in some extent the homework together.



Thematic Equity Portfolios


We create 2-5 equity portfolios based on the most important mega-trends characterizing the current economic wave. We select the stocks according to a proprietary quantitative model Fuzzy Logics weighted.

The turnover is extremely limited and the weight per single stock is calibrated in a way to get the growth when it happens, but not to devastate the portfolio during the corrections.

Rarely we take a strong view, always subject to approval by all the Partners, and we decide to acquire a long run strategic stake in a company, with a consequent increase of its percentage weight.
Granular portfolio is the name of the game for us.

Best stock in 2021: Denbury Inc.

Denbury riv-capital



Our investment approach does not charge any management fee, which are set to be zero.


1. For excess return below 9% (over the High Watermark limit),
the fee is 20% (of the excess return).
For excess return between 10%-20%, the fee is 30%
For excess return above 20%, the fee is 50%


• Costs of the company must be approved by
the Board and by the General Meeting of the Limited Partners at the beginning of each year.
• Maniacal attention to costs paced to the rigor of our Firm


We will reach you as soon as possible