Opportunistic Edge. Active Risk Strategy. Superior Returns.

At Black Harbor, a privately owned hedge fund firm, we navigate global markets with precision — leveraging global macro multi‑asset strategies to deliver consistent, risk‑adjusted returns through market cycles and volatility regimes. Built on capital preservation and active risk-optimization at the core of our philosophy.

Investment Strategies

    • The flagship fund invests in long/short relative value opportunities across asset classes in US, Europe, and Asian markets, including equities, credit, interest rates, currencies, commodities, macro indices and derivatives.

    • Our approach blends Strategic & Tactical Asset Allocation Strategies with a risk-optimized opportunistic overlay to capture asymmetric alpha opportunities in all market cycles.

    • The strategy complements the macro portfolio as a tactical overlay focused on capitalizing mispricing dislocations caused by market volatility and illiquidity premia, seeking absolute returns uncorrelated to any market beta benchmark.

    • We take a tactical approach with quantitative applications to employ risk-optimized trades in global futures and options derivative markets.

Active Risk Management Precision through Market Cycles

The core of our portfolio strategy is built on optimized active risk management. We engineer robust portfolio construction frameworks with a deep understanding of dynamic risk profiles spanning top-down macro, sector, and single-asset layers. Multi-dimensional scenario planning ensures we mitigate potential downside while capturing volatility-driven alpha in dislocated markets.

The Outcome: Strategic capital growth, opportunistic flexibility, resiliency through volatility, and enhanced risk-adjusted returns.

Leadership

Alfonso founded Black Harbor Capital in 2024 and currently serves as the firm’s Chief Investment Officer. He is a seasoned investor with deep expertise in portfolio management and multi-asset trading across global markets, with a successful track record navigating volatile market cycles since the GFC, building a reputation for strategic leadership and innovative investment execution.

His investing and risk management versatility spans a wide range of strategies including Long/Short Equity, Global Macro, Systematic Arbitrage, ETF Indexing, Opportunistic Credit, and Treasury Optimization. Alfonso earned a long-standing reputation for identifying asymmetric opportunities, executing innovative risk-management strategies, and providing strategic leadership on CIO Investment Committees and Global Risk Committees.

Prior to founding Black Harbor, Alfonso led portfolio risk strategy, derivatives hedging and opportunistic macro for Blackstone’s Global Credit Division ($354B AUM). He partnered with CIOs, COOs, and CFOs in launching flagship funds such as BCRED Private Credit Fund and Multi-Asset Credit Fund, overseeing exposure across liquid credit and alternative private credit.

Alfonso began his career at Goldman Sachs as a Derivatives Trader managing Special Situations and Macro Index Arbitrage strategies (~$50B AUM). He later joined Macquarie Capital to build the firm’s Asian Synthetic Trading business, gaining expertise across China, India, Japan, Korea, and Taiwan. Subsequently joined Société Générale in Equity Derivatives Trading, focusing on synthetic portfolio financing for hedge fund CIOs and Treasurers .

Alfonso earned a BBA in Corporate Finance and Risk Management, graduating Summa Cum Laude with Highest Honors from St. Mary’s University, and holds a Chartered Financial Analyst (CFA) designation.

Alfonso Diaz, CFA

Founder & Chief Investment Officer

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