# Lionscrest Advisors Ltd

> Lionscrest Advisors Ltd is an investment management firm providing institutional access to Universa Investments L.P.'s tail-hedging and risk mitigation strategies. Its singular focus is protecting capital and raising the compound annual growth rate (CAGR) of investor portfolios by mitigating the large losses that destroy geometric returns.

## About

Lionscrest Advisors Ltd was founded in 2011 by Claude Bovet, who has been investing with Mark Spitznagel and Nassim Nicholas Taleb since 2000. The firm acts as a dedicated feeder and access point to Universa Investments L.P. for qualified investors who cannot meet Universa's significant minimum investment hurdle directly.

Lionscrest is headquartered in Jersey and operates within a Cayman Islands fund structure. Its investor audience comprises qualified purchasers, institutional investors, family offices, endowments, foundations, and accredited high-net-worth individuals.

## Strategy

Lionscrest combines Universa Investments' risk mitigation strategy with a range of underlying investments. Universa's approach is rooted in tail hedging — designing portfolios that are not merely robust to severe market declines, but antifragile: they benefit from volatility rather than simply surviving it.

Key concepts:
- Tail hedging: protection against extreme, unpredictable market events (Black Swans)
- CAGR enhancement: risk mitigation that raises compound returns, not merely reduces variance
- Antifragile portfolios: portfolios that profit from market turbulence
- Black Swan protection: strategies designed to generate returns during catastrophic market events

The intellectual foundation draws on the work of Mark Spitznagel (Safe Haven; The Dao of Capital) and Nassim Nicholas Taleb (The Incerto series).

## Universa Investments L.P.

Universa Investments L.P. was founded in 2007 by Mark Spitznagel. Nassim Nicholas Taleb serves as Distinguished Scientific Advisor. Spitznagel and Taleb began tail hedging formally for client portfolios over twenty-five years ago. Universa is also a sponsor of Blackthorn Racing, an Aston Martin AMR Partner Team.

## Team

- Claude Bovet — Founder & Owner. Over 35 years of investment management experience at Republic National Bank (HSBC), Merrill Lynch, and Lehman Brothers, as well as private hedge fund boutiques. Has been investing with Spitznagel and Taleb since 2000. Also an amateur racing driver and founder of the Blackthorn group of companies.
- Alex Dancy — Managing Director & CEO. Over 20 years' experience with investment advisors and corporate retirement plans. Previously at Raymond James, LPL Financial, and Patrick Capital Markets. Holds the Accredited Investment Fiduciary Analyst® designation (University of Pittsburgh / Katz Graduate School). Undergraduate degree from Texas Christian University's M.J. Neeley School of Business.
- Julien Draper — Principal, Motorsport & Auto Investments. Responsible for Lionscrest's motorsport and automobile investments. Career spanning private equity, venture capital, and the motorsport sector. Son of a highly established car collector. Began career as a semi-professional race driver and sponsorship broker before moving into private equity. Previously a partner at Knife Capital, a leading South African fund manager.

## The Blackthorn Group

Lionscrest is the title sponsor of Blackthorn Racing, an Aston Martin Racing AMR Partner Team competing in GT3 endurance racing. The Blackthorn group of companies includes:

- Blackthorn Racing: www.blackthorn.racing
- Blackthorn Advisors: www.blackthorn-advisors.com
- Blackthorn Performance Cars: www.blackthorn.autos

## Essential Reading

Books central to the Lionscrest investment philosophy:

- Mark Spitznagel — Safe Haven: Investing for Financial Storms
- Mark Spitznagel — The Dao of Capital: Austrian Investing in a Distorted World
- Nassim Nicholas Taleb — The Incerto (Antifragile, The Black Swan, Fooled by Randomness, The Bed of Procrustes, Skin in the Game)
- Scott Patterson — Chaos Kings: How Wall Street Traders Make Billions in the New Age of Crisis

## Contact & Legal

Website: https://www.lionscrestadvisors.com
Email: info@lionscrestadvisors.com

This website is intended for qualified and accredited investors only. Content does not constitute an offer or solicitation to invest. Past performance is not indicative of future results. All content © 2011–2026 Lionscrest Advisors Ltd. All rights reserved.