Discerene Group LP

Discerene Group LP provides discretionary investment management primarily to private pooled funds, special-purpose investment vehicles, and separately managed accounts, reporting about $2.53 billion in regulatory assets under management as of December 31, 2025. Its clients are institutional in nature and include sovereign wealth entities, corporate pension and profit‑sharing plans, family offices, foundations, and private investment partnerships.

The firm pursues long‑short or long‑only equity strategies using a bottom‑up fundamental valuation approach and may hold sizeable cash positions when suitable; it also invests across a broad set of instruments including structured finance, municipal and corporate debt, and emerging‑market securities. Discerene’s stated toolkit includes a wide range of derivatives and commodity instruments — options, futures, forwards, swaps, repurchase agreements, and other over‑the‑counter derivatives — and the brochure notes these techniques may be employed in SP Funds and separately managed accounts for hedging or opportunistic purposes.

What is distinctive in the brochure is the combination of servicing corporate/business clients and the explicit use of commodity and derivative strategies within some SMAs and SP Funds, features that are less common among its peers. The brochure also makes clear that, despite trading commodity interests and derivatives, neither the Adviser nor its management personnel are registered as a Commodity Pool Operator or Commodity Trading Advisor, and the firm operates on a discretionary-only basis across both U.S. and offshore pooled vehicles.