Reading Signals.
Finding Value.

A London- based alternative investment management firm focused on European credit and real estate opportunities.

Our Journey
Meet the Team

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Assets under management

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Employees

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Track record

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Complementary strategies

SIGNAL's Journey from Genesis to Established Institutional Platform

2015

SIGNAL was founded in 2015 by three former Deutsche Bank partners who shared a vision to build a more focused and independent credit investment platform. Having led a successful European special situations business within the bank, they recognised that post-financial crisis capital was increasingly concentrated among large global managers - leaving smaller, more complex European opportunities undercapitalised.

They saw an opportunity to create a firm dedicated to these overlooked segments: smaller, bilateral, and directly structured deals within European credit. By combining deep local expertise with disciplined risk management, SIGNAL set out to offer investors differentiated access to value that larger institutions often missed.

2017

SIGNAL successfully closed its inaugural SIGNAL Alpha Fund in 2017. The fund embodied SIGNAL’s founding thesis -  targeting smaller, less competitive European credit opportunities through disciplined, bilateral investing. Its rapid close reflected strong investor support for SIGNAL’s differentiated, disciplined approach and conviction in the team’s ability to deliver consistent, risk-adjusted returns.

2020

SIGNAL expanded its capabilities in 2020 by bringing on a specialist asset-backed securities team. This strengthened the firm’s structured credit expertise and broadened access to diverse European credit opportunities.

2021

In 2021, SIGNAL closed its SIGNAL Alpha Fund II, reaffirming investor confidence in the team’s disciplined European credit approach. The same year, SIGNAL also launched the Beacon Hedge Fund, expanding its platform and providing investors with a complementary, flexible strategy to capture structured credit opportunities across public markets.

2022

SIGNAL formed the Harmonic platform and launched its first CLO. This milestone represented the firm’s first foray into innovative structured credit solutions, enhancing its ability to structure and manage risk directly, rather than relying on market-standard instruments.

2023

In 2023, SIGNAL issued Harmonic CLO II and III, significantly expanding the platform’s scale and reach and building on the firm’s expertise in sourcing European credit opportunities that are differentiated, directly structured, and less crowded by global competitors.

2025

By 2025, SIGNAL completed the final close of SIGNAL Alpha III alongside Harmonic CLO IV and V, representing the latest stage in a decade-long journey of building a disciplined, European-focused platform. The firm now manages approximately €2.2 billion across its SIGNAL Alpha funds, reflecting strong investor support and execution.

Throughout this period, SIGNAL has remained true to its founding convictions, maintaining a consistent approach to European credit without style drift. Today, SIGNAL’s platform spans three complementary products with a strong structured finance focus, supported by a team of 34 professionals. Together, they provide the expertise and operational depth to execute on complex European credit opportunities and continue generating long-term value for investors.

The SIGNAL Team

Experienced leadership, backed by seasoned professionals.

Elad Shraga

Founding Partner, Chief Investment Officer

Amit Jain

Founding Partner, Credit Investments

Gad Caspy

Founding Partner, Real Estate Investments

Tavneet Bakshi

Partner, COO & Head of Investor Relations

Colman McCarthy

Partner, Real Estate Investments

Nick Waring

Partner, Credit Investments

Rajat Mittal

Partner, Leveraged Credit

Fredrik Metze

Partner, Credit Investments

Tom Seymour Mead

Chief Financial Officer

Tim Waterson

General Counsel and Head of Investment Structuring

Gareth Richardson

Director, Real Estate Investments

Adnan Bey

Director, Leveraged Credit

Amalan Sri

Fund Controller

Carlos Aguayo

Director, Real Estate Investments

Danilo Barreto

Director, Leveraged Credit

Henco van der Meulen

Senior Manager of Luxembourg Legal

Henry Gray

Vice President, Real Estate Investments

Joanne Bywater

Associate, Real Estate Investments

Lorenz Kroeber

Managing Director, Credit Investments

Martina Spencer

Executive Assistant

Liudmila Kuzmina

Director of Luxembourg Operations

Maxime Gerard

Manager of Luxembourg Operations

Parm Samra

Head of Structured Credit Operations

Stephen Kennedy

Director, Real Estate Investments

Toyosi Aganga

Investor Relations & Communications Manager

Tuan Thai

Managing Director & Deputy PM, Leveraged Credit

Natasha Bours

Compliance and Operations Associate

Piotr Ossowicz

Senior Analyst Credit Investments

Will Scrivens

Associate, Real Estate Investments

Ceara Butler

CLO Operations Manager

Corin Dunn

Associate, Investor Relations

William St Clair

Director, Investor Relations

Tara Simmons

Team Assistant and Front of House

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