Irene Perdomo, and her partner Leonardo Marroni, run the London-based, $115 Million Devet Capital.
But Irene Perdomo doesn’t follow the stereotypical background of a successful investor. Irene Perdomo came to Europe after winning the prestigious Elite Model contest in her home country of Uruguay.
She then worked 10 months as a model in Paris, then short of money she tried two other ventures, promoting Uruguay as a film location and setting up South American sweet shops in India.
After completing an M.B.A Irene Perdomo took a job at at Barclays as a commodity sales broker. But she said it left “her hugging the WC while crying”.
“I met my future partner Leonardo Marrone after asking for someone to help her understand finance better” she said.
“So many activities are overrated. It’s bullshit that traders have to trade and they can’t do anything else” such as investor relations or reconciling trades, said Perdomo.
“Another of the myths when you start is that you need a Bloomberg (terminal). Really?” she adds. “The industry is so full of myths.”
And in the male-dominated world of finance, it would also be a myth to think that a former beauty queen can’t be successful money managers too.
Devet Capital hedge fund strategy is outperforming the wider hedge fund industry by a wide margin.
In short, Irene Perdomo and her partner run Devet Capital on a shoestring. “My parents only spent what was necessary. I grew up understanding the value of money” she said.
Devet Capital’s low-cost approach has helped the small fund survive in a sector where fund closures have outnumbered new launches for the past three years.
Irene Perdomo’s trading room is a spare room downstairs in a house in the leafy London suburb of Wimbledon.
Surrounded by six stray dogs she operates on an annual budget of 66,000 GBP, which is what most hedge funds spend on software in one year.
Irene Perdomo runs London-based, $115 Million Devet Capital…
but came to Europe after winning the prestigious Elite Model contest in her home country of Uruguay
Devet Capital deploys technology and innovation to seek out returns and they use a risk management system to avoid exposing capital to risk.
Preservation of capital is a core investment principal. They also claim to have a highly experienced and innovative management team and a lean corporate structure.
My parents only spent what was necessary. I grew up understanding the value of money – Irene Perdom
Devet Capital launched a programme called Capturing Talent Alpha, CTA, designed to identify and support skilled investment managers with original and contemporary ideas.
The eventual aim being to incorporate them into their product offering, using technology and innovation to seek out returns whilst escaping excessive volatility.
Irene Perdomo co-authored “Pricing and hedging financial derivatives: a guide for practitioners.
So many activities are overrated. It’s bullshit that traders have to trade and they can’t do anything else – Irene Perdomo
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