Lionscrest Advisors Ltd is an investment management firm singularly focused on combining Universa Investments risk mitigation strategy, which aims to raise the compound returns of an investor’s entire portfolio by protecting against steep portfolio losses, with a range of underlying investments.
Lionscrest Advisors acts as a dedicated entry point to Universa Investments L.P., providing access to its institutional investment strategies for investors who are unable to meet Universa's significant minimum investment hurdle.
Effective risk mitigation removes the need to make forecasting and timing decisions — like raising cash in anticipation of a market decline — that might ultimately prove wrong, whilst still permitting the capture of upside gains if markets continue to rise.
A tail-hedged portfolio is thus not just robust to severe market declines but antifragile — in that it benefits from volatility.
Financial institutions, businesses and governments are interconnected in ways that are often hard to ascertain or measure. Leverage through the use of debt has become increasingly prevalent, and volatility has been artificially suppressed through central bank policies. In the current global environment, unexpected and highly consequential negative market events — commonly referred to as "Black Swans" — are more likely to occur. When extreme market risk does materialize, the impact is almost instantaneously transmitted throughout.
Learn About Universa"The essence of investment management is the management of risks, not the management of returns. Well-managed portfolios start with this precept."
"I am a strong believer that, if a risk mitigation strategy merely slashes a portfolio's risk at a cost of growth of capital in that portfolio — even if it raised the 'mean/variance' of that portfolio — then it was simply ineffective and probably not worth doing. The goal of risk mitigation must be to achieve the portfolio effect of raising the compound annual growth rate (CAGR), and thus wealth in the end user's portfolio, by mitigating risk in that portfolio. This has always been our focus."
"The mathematics of compounding: The big losses are essentially ALL that matter to your rate of compounding, not the small losses — and not even the big or small gains. The big losses literally destroy your geometric returns and, equivalently, your wealth."
Universa Investments L.P. has specialized in risk mitigation since its establishment in 2007. Spitznagel and Taleb began tail hedging formally for client portfolios over twenty-five years ago.
Lionscrest's founder, Claude Bovet, has been investing with Spitznagel and Taleb since 2000, uniquely positioning Lionscrest as a dedicated access point for investors seeking Universa's institutional strategies.
Claude is the founder and owner of Lionscrest and the Blackthorn group of companies, as well as an amateur racing driver. He has over 35 years of investment management expertise developed in senior positions at some of the world's leading hedge fund investment firms including Republic National Bank (part of HSBC since 1999), Merrill Lynch and Lehman Brothers, as well as private hedge fund boutiques. Claude has been investing with Spitznagel and Taleb since 2000.
Alex is the Managing Director of Lionscrest and, as CEO, is responsible for its operation and investment activities. He has over 20 years' experience working with investment advisors and corporate retirement plans, having worked at Raymond James, LPL Financial and Patrick Capital Markets. He has provided investment management guidance to over 50 corporations and holds the Accredited Investment Fiduciary Analyst® designation (University of Pittsburgh / Katz Graduate School). Alex holds an undergraduate degree from Texas Christian University's M.J. Neeley School of Business.
Julien is a Principal of Lionscrest, responsible for its motorsport and automobile investments. With a career spanning private equity, venture capital and the motorsport sector, he has built an extensive network in rare and exceptional racing cars. The son of a highly successful car collector, Julien began as a semi-professional driver and sponsorship broker before pursuing a private equity career, including as a partner at Knife Capital, a leading South African VC fund, before joining Lionscrest and Blackthorn.
The books that underpin the philosophy and strategies that Lionscrest builds upon — by the very thinkers whose work informs our approach to risk and compounding.
Risk mitigation needs to be cost-effective — it should raise wealth by mitigating the risks that matter, not the risks that don't. Spitznagel builds from first principles, establishing the role risk mitigation ought to play in investment portfolios and provides a practical framework to identify Safe Havens. "Clear, logical and persuasive — highly recommended for all students of the markets." — Harshal Chaudhari, CIO, GE Pensions.
As Spitznagel describes his Daoist and roundabout investment approach: "one gains by losing and loses by gaining." This is Austrian Investing — a counterintuitive, proven approach gleaned from the Austrian School of economics. Spitznagel condenses the theories of Ludwig von Mises into a highly effective investment methodology. "At last, a real book by a real risk-taking practitioner." — Nassim Nicholas Taleb.
The landmark five-book series — Antifragile, The Black Swan, Fooled by Randomness, The Bed of Procrustes, and Skin in the Game — has changed the way millions think about uncertainty, chance, volatility, and risk. They comprise a single cohesive work and are the most significant intellectual project shaping modern investment thinking. "A book that altered modern thinking." — The Times (London).
A closely observed chronicle of the storm-chasing edgelords of finance and the critics with whom they clash — the billion-dollar traders and crisis predictors who strive to turn extreme events into financial windfalls. Patterson depicts how Taleb's faction believes humans can never see the big disaster coming. In 2007, Taleb's collaborator Mark Spitznagel launched Universa, which went on to make billions protecting investors against unforeseen market chaos.
Claude Bovet, an amateur racing driver, is the founder and owner of Lionscrest and the Blackthorn group of companies. His passion for motorsport is woven into the fabric of Lionscrest's identity and partnerships.
Lionscrest is the Title Sponsor of Blackthorn, an Aston Martin Racing AMR Partner Team — a sponsorship that reflects the firm's belief in precision, performance and the pursuit of excellence under pressure.
Julien Draper, a Principal of Lionscrest, brings his professional career in motorsport, private equity and venture capital to advise on investments in rare and exceptional racing cars and the broader automotive sector.
Lionscrest works with investors seeking access to Universa Investments' institutional risk mitigation strategies. If you believe there may be a fit, we welcome your enquiry.
We aim to respond within one business day.
Submit an Enquiry →This website is intended for qualified and accredited investors only. Submission does not constitute an offer or solicitation to invest.