Client Spotlight: ITERAM Capital

Client Spotlight

ITERAM Capital, located in Geneva, Switzerland, was established in 2015 and is an alternative asset manager specialized in hedge funds, venture capital and private debt. The company acts as the investment manager for several funds domiciled in multiple jurisdictions and offers alternative investment advisory and research services.

The team has over two decades-long institutional expertise and track-record in all fields related to alternative investments. The founding members were part of the top management in the alternative investments division at Edmond de Rothschild (Suisse) SA, formerly Banque Privée Edmond de Rothschild, which was a pioneer in alternative multi-management.

Marouane Daho is a portfolio manager and research analyst at ITERAM and also a member of the investment committee. Marouane’s responsibilities are to source managers and oversee the company’s hedge fund portfolios. Prior to joining ITERAM, Marouane was in charge of hedge funds and private market investments at a single-family office in Geneva. When not at the office, Daho is hiking in the Swiss mountains or riding his road bike.


As a newly launched asset management firm back in 2015, ITERAM started with proprietary analytical and operational tools and complemented them by partnering with an external provider. The challenges were:

  • Diverse Asset Classes and Markets: the analytical tool must be capable of handling diverse financial instruments and provide insights across different regions and economies, suitable for a global investor.
  • Multi-Currency Support: with a global investment universe, ITERAM needed the solution to accommodate different currencies and provide risk and portfolio analysis irrespective of the currency denomination. 
  • The need for a comprehensive and robust system that can meet the requirements of both the risk and investment management teams (peer grouping, scenario analysis, factor analysis, etc.)

Building models and reports in Excel is time-consuming and inconvenient. By contrast, Venn by Two Sigma offers a user-friendly interface compared to other risk portfolio management tools and can help tackle all of the challenges above. ITERAM appreciated the flexibility and ability to customize a variety of tasks to accelerate internal decision-making processes.



ITERAM has partnered with Venn to help with several key workflows:

  • Risk Management
  • Portfolio Construction
  • Ongoing Sourcing and Research


Risk Management

Venn aims to help produce a variety of risk metrics for both single line investments  and on the whole portfolio level. The key metrics include risk attribution, correlation and factor attribution analysis. We also use Venn's stress testing capability to help navigate different challenging market scenarios.

Portfolio Construction

Venn has been instrumental in building and optimizing our portfolios. We typically integrate our CAPM assumptions to get forecasted returns and use optimization results as a due diligence tool for our strategic allocation changes.

Ongoing Sourcing and Research

Venn comes with an extensive database of funds and managers. The advanced filter can help us quickly build up peer groups according to different criteria, and generate analyses and tailor-made reports very effectively.

Results and What’s Next

As an asset manager specializing in investment solutions, it’s important to seek a solution that also integrates data for private markets activity. While established data vendors exist for private funds, ITERAM will find value to have all the data within one single database.  


Venn is pleased to share this as a currently planned initiative and looks forward to further partnering with ITERAM.


Disclaimer: The Venn subscriber featured in this article was not compensated for their statements. As a Venn subscriber, their use of portfolio analytics or other Venn features and their experience could differ from your organization’s due to their particular use of Venn, the version of Venn used, or other factors. Not all subscribers will be equally satisfied. The person providing this testimonial was selected based on a variety of factors, some of which are subjective. This document is for informational purposes only. Not an offer to buy or sell securities. Click here for Important Disclosure and Disclaimer Information.



The information contained in this article is provided for general informational and educational purposes only, and should not be construed as investment advice. The contributor to this material is associated with a client of Two Sigma Investor Solutions, LP (“TSIS”). Neither TSIS nor its affiliates have compensated the contributor for his statements. The statements from the interview have been edited and reformatted by TSIS with the contributor’s approval. Unless otherwise noted, the contributor’s statements do not represent the actual views or opinions of TSIS or its affiliates, or any officers, directors, or employees thereof.

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