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Evenlake

Launched in February 2026, the TT Evenlake Strategy is focused on generating alpha and pursuing attractive compounded absolute returns via a portfolio of long and short European equities. The investment team is primarily focused on the mid-cap European universe, and their strategy is underpinned by the belief that earnings growth and changes in earnings expectations are the dominant drivers of equity returns over the medium term. Through their fundamental analysis, the team seeks to identify stocks where their assessments of earnings and cash flow differ meaningfully from market consensus. 

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Evenlake

  • With over 40 years’ combined investment experience in European mid-caps, portfolio managers Alex Hugh and Stephen Swanton have worked together for more than 15 years, in various forms.
  • The investment team seeks to capture alpha in European equities by marrying their deep fundamental analysis with a disciplined portfolio construction approach that seeks to avoid the pitfalls of market timing. 
  • Ideas are generated from a deep knowledge of the European equity universe, with a mid-cap focus. They are validated by in-depth fundamental analysis, company meetings, proprietary financial models and valuation analysis.

  • Ongoing opportunities to generate alpha are derived from a shift in market structure, combined with a long-term investment horizon, which facilitates better decision making and the ability to capitalise on volatility.
  • For detailed information about the strategy, please register for access to our online portal. For Professional Investors only. 

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People

Who you'll be working with

Alex Hugh, Portfolio Manager, TT Evenlake Strategy

Alex Hugh

Portfolio Manager, TT Evenlake Strategy
Alex Hugh, Portfolio Manager, TT Evenlake Strategy

Alex Hugh

Portfolio Manager, TT Evenlake Strategy

Alex is Portfolio Manager of the TT Evenlake strategy. Before joining TT, he was Partner and Head of Research at Kuvari, a long/short equity hedge fund focused on the European mid-cap universe.  Prior to this, he worked at TT as a Senior Investment Analyst on the TT Focus Fund, which was spun off into Kuvari. Earlier in his career, Alex was Managing Director and Head of Pan-European Small- and Mid-Caps at UBS, and a Small-/Mid-Cap Analyst at Cazenove. He began his career at Ernst & Young in Audit and Corporate Finance. Alex holds an LLB in Law with French from the University of Leeds. He is an ICAEW Chartered Accountant and a CFA Charterholder.

Stephen Swanton, Co-Portfolio Manager, TT Evenlake Strategy

Stephen Swanton

Co-Portfolio Manager, TT Evenlake Strategy
Stephen Swanton, Co-Portfolio Manager, TT Evenlake Strategy

Stephen Swanton

Co-Portfolio Manager, TT Evenlake Strategy

Stephen is Co-Portfolio Manager of the TT Evenlake strategy. Before joining TT, Stephen was a Partner and Research Analyst at Kuvari, a long/short equity hedge fund focused on the European mid-cap universe. Prior to this, he spent several years at Redburn as a Partner in Equity Research. Stephen began his career at UBS, latterly as an Executive Director and Head of UK Small- and Mid-Cap Capital Goods research. Stephen holds a BA in Economics from Durham University and is a CFA Charterholder.

Amanda Bedford, Head of Alternatives

Amanda Bedford

Head of Alternatives
Amanda Bedford, Head of Alternatives

Amanda Bedford

Head of Alternatives

Amanda is TT’s Head of Alternatives. Before joining TT, she was Partner and Head of Investor Relations at Kuvari, a long/short equity hedge fund focused on the European mid-cap universe. Prior to that, Amanda was Associate Partner, Investor Relations at Caxton Associates. She holds a BA in International Studies: Politics and Diplomacy from the University of Richmond.

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