Espresso, Aviation and Global Investments: Meet Our New Head of Capital Formation
Whether flying an aircraft through testing conditions or steering institutional capital through unpredictable macroeconomic shifts, Paride “Alex” de Calice operates on a singular philosophy: preparation and discipline create confidence.
Now, stepping in as our new Head of Capital Formation, Alex brings this precise, globally-minded approach to our roadmap as we set out to redefine the intersection of private markets and technology. With a 25-year track record that includes senior leadership stints at tech-forward firms like Pagaya Technologies, Tacora Capital and Point Digital Finance, his arrival marks an exciting leap forward for our institutional partnerships.
A global citizen with an Italian roaster’s heart
To understand Alex’s approach to business, one must first look at his passport. Raised across Spain, Costa Rica, Colombia, Japan, Switzerland and the UK, he possesses the kind of cultural fluency that cannot be taught in a boardroom.
"Relationships don't start with a transaction," he notes. "They start with listening, understanding different perspectives and finding common ground." This global immersion has been invaluable in building trust with investors across diverse regions.
Yet, despite his expansive travels, his Italian roots ground his daily rituals. When asked where he found the best espresso during his global upbringing, he is unequivocal: while he’s discovered great coffee worldwide, "a proper Italian espresso is still hard to beat."
The Pagaya blueprint and the art of the raise
Alex’s career is defined by a front-row seat to the modernisation of alternative investments. A pivotal moment was helping scale Pagaya from a nimble startup to a publicly traded company.
"That experience taught me that capital formation isn't about having the perfect presentation. It's about educating the market, being transparent and building credibility over time.”
"Investors back people first, then performance and ultimately the vision."
There is a pervasive myth in finance that investor relations is simply the act of asking for money. Alex firmly debunks this. The "art and science" of his role is fundamentally about alignment. It requires understanding an investor's unique objectives and having the candor to say, “We’re not the right fit today,” when necessary. Good capital formation, he insists, is about finding the right partners, not just aggregating capital.
Expanding Liquidity’s vision
At Liquidity, the mandate extends far beyond traditional private credit. Alex is energised by our unique synthesis of technology, data and deep investment expertise.
"What excites me most is the opportunity to help build something that is much bigger than a traditional investment manager," he explains. The roadmap ahead involves deploying capital across a broadened spectrum of private markets, but the opportunity extends well beyond a single asset class. “Whether it's structured credit, asset-backed finance, CLOs, strategic partnerships with banks and asset managers or new investment solutions that evolve with the market, I believe we're only beginning to unlock the platform's potential.”
"Today, institutional investors are highly selective, demanding consistency, transparency and adaptability. Technology plays a crucial role here, allowing Liquidity to move swiftly without compromising underwriting standards," he states. However, Alex is quick to point out that technology is an amplifier for investment professionals, not a replacement.
"The winners of the next decade will be those that marry seasoned human judgment with intelligent tech.”
Calm under pressure: From the deep sea to the dinner table
It is fitting that Alex’s outside pursuits – scuba diving and aviation – require the same intense focus and emotional regulation as high-stakes investing. "Markets can be unpredictable," he says, "but having a structured process, remaining disciplined and avoiding emotional decisions usually leads to better long-term outcomes."
Yet, for all his analytical rigor, Alex remains deeply rooted in human connection. If he were to host a dinner party to welcome his new team, the menu would be a nod to his heritage: homemade pappardelle with a slow-cooked short rib ragù.
"Growing up in an Italian family, food was always about bringing people together," he reflects. "For me, cooking is a lot like business. The ingredients matter, but it's really about the people you're sharing it with."
With the right ingredients, a steady hand at the controls and a clear vision for the horizon, Alex is ready to help us navigate our most ambitious ascent yet – architecting the foundations of global asset management.