Emerging Markets Distressed Debt and Special Situations – Seeks to provide superior long-term capital appreciation through proactive, distressed investing in emerging markets corporate, sovereign or quasi-sovereign entities. Strategies target stressed/distressed and defaulted bonds which are typically large, global Eurobond issues, governed by U.S. or U.K. law, underwritten in public capital markets and generally U.S. dollar denominated. Opportunities are identified by our proprietary, fundamental research and both liquid/stressed and distressed/defaulted credits are evaluated to benefit our various mandates. Positions are then sized relative to market liquidity. Alpha generation takes place through bottom-up, intensive credit evaluation/monitoring combined with the top-down perspective of a highly experienced team of career-dedicated emerging markets investors. Portfolios are hedged typically using sovereign credit default swaps.
Emerging Markets Multi-Asset – Seeks to generate high, uncorrelated returns that are tail-risk aware. Offers a single solution to provide diversified global emerging markets exposure to Gramercy’s existing emerging market alternative strategies across a variety of asset classes as well as direct investments in these same asset classes when that approach is deemed more appropriate. The strategy invests in liquid investments in distressed, credit, equity and special situations. Active asset allocation and risk controls are implemented by a highly experienced pan-emerging markets investment team collaborating at the portfolio level.