7orca and Dufolio partner to expand FX overlay into France and Belgium
3 SEPT, 2026
By Joanna Piwko from RankiaPro Europe
7orca Asset Management AG has partnered with Dufolio to extend its institutional currency management services into France and Belgium, effective from 1 September 2026. Tindaro Siragusano, founder and CEO of the Hamburg-based FX Overlay specialist, said the move marks the next step in the firm's pan-European strategy.
Since its founding in 2017, 7orca has grown assets under management to around EUR 23 billion, drawing on an exposure database covering close to 1,000 investments.
Expanding into France and Belgium
The partnership positions Dufolio as 7orca's regional point of contact for building direct dialogue with institutional investors in the two markets, an area where currency exposures span both liquid holdings and Private Markets allocations.
"Our strategic goal is to develop 7orca into a leading pan-European currency manager. France is a key target market for us and, in institutional terms, one of the most significant in Europe, there, as in Belgium, we encounter internationally diversified portfolios and growing demand for specialised currency management."
Tindaro Siragusano, Founder and CEO, 7orca Asset Management AG
Siragusano added that the firm's approach starts from the investor's portfolio and objectives rather than from a fixed product.
"Our starting point is not the product but the portfolio and the investor's objectives. In Dufolio we have gained a professional partner with proven market knowledge for this step. Together with institutional investors we want to move into implementation and establish currency management as a separate steering level that contributes to portfolio results."
Tindaro Siragusano, Founder and CEO, 7orca Asset Management AG
Managing currency risk in Private Markets
Currency exposures from capital calls, repayments and valuations across Private Markets structures are often only partially visible without a dedicated look-through, according to the release. 7orca's exposure database, built since 2017, now covers close to 1,000 investments across numerous funds and managers.
"Recent analyses by the ECB and Banque de France highlight how currency risk has moved back into focus for international investors. Investing internationally also means carrying currency risk, and the way it is managed can materially affect return, risk and capital efficiency. Professional FX management is therefore becoming an indispensable component of sound portfolio governance."
Katherina Duong-Bernet, CFA, Founder, Dufolio
A partnership built on complementary expertise
Dufolio SASU is an independent third-party marketer based in Paris that supports asset managers with institutional business development and market entry across Europe, acting as the regional point of contact for the partnership.
"For investors setting up structured currency risk management for the first time, 7orca is, in my view, the ideal partner. The team takes on the complexity of governance, operations, reporting and benchmarks and integrates the solution seamlessly into existing structures. What is highly complex beneath the surface becomes transparent and manageable for the investor. The implementation effort remains very manageable relative to the potential impact on return, risk and capital efficiency."
Katherina Duong-Bernet, CFA, Founder, Dufolio
"7orca brings together a rare combination of independence, deep FX expertise, modern technology and proximity to investors. Its growth trajectory demonstrates the relevance of this approach to investors' current needs."
Katherina Duong-Bernet, CFA, Founder, Dufolio
