Mr. Koenigsberger is the Founder of Gramercy. He has over 23 years of investment experience in emerging markets fixed income securities. Since 1998, he has been a Managing Partner of Gramercy. From 1995 to 1998, he was a Senior Vice President at Lehman Brothers, where he managed the bank’s Sovereign Debt restructuring group. From 1992 to 1995, Mr. Koenigsberger was a Vice President at Merrill Lynch, Pierce, Fenner & Smith Incorporated where he traded emerging market debt securities in New York, London and Hong Kong. From 1987 to 1991, he was Vice President at CR-P Associates, a financial advisory firm with offices in Central and South America that was directly involved in sovereign debt restructurings, debt buy-backs, and debt-equity swap transactions in Latin America.

MBA in Finance at Wharton
MA in International Studies at University of Pennsylvania (Latin America)
BA in Political Science and History at University of California, San Diego (with Honors) (Latin America)
Registered representative of FINRA (series 7 and 63)

Mr. Seaman has over 25 years of business management experience. Prior to joining Gramercy in June 2002, Mr. Seaman was the Chief Operating Officer and Chief Financial Officer of J.P. Morgan Fleming Asset Management’s Hedge Funds Group and Real Estate Investment Group, from 1999-2002, with responsibility for business growth and operational integrity. Previously, in 1998, he was Manager of the Emerging Markets Strategic Planning Group at J.P. Morgan Securities Inc., responsible for building a global office network. From 1992 to 1997, Mr. Seaman was the head of Emerging Markets Business Analysis and Development, J.P. Morgan Securities, Inc., where he was instrumental in building new products and managing a complex control structure. Prior to joining J.P. Morgan Securities, Inc., he was a Vice President in the J.P. Morgan & Co., Audit Group, where he specialized in management consulting to new and rapidly growing sales and trading businesses from 1986 to 1992. Mr. Seaman was a Senior Audit Analyst at Ernst & Whinney from 1984 to 1986.

MBA in Finance at New York University – Stern Graduate School of Business
BS in Accounting with a minor in Economics at Long Island University - CW Post Center School of Professional Accountancy (Summa Cum Laude)
Certified Public Accountant
Registered representative of FINRA (series 7 and 63)

Mr. Rauch has over 29 years of research and investment experience. He oversees the research and the corporate restructuring activities of Gramercy and chairs the Investment Committee. He has been, or is currently involved, as a leading creditor or advisor in the restructuring of numerous companies in Asia and Latin America including Accel, Alestra, Asia Pulp and Paper, Dina, Durango, Essar Steel, Iusacell, Mechala, Medefin, San Luis, Satmex, SIDEK, Synkro, and Transtel. Prior to joining Gramercy in January 2001, Mr. Rauch worked as a consultant to hedge funds managed by Van Eck Global and Farallon Capital Management, specializing in the analysis of emerging markets special situations. From 1994 to 1999, Mr. Rauch was President of The Weston Group, where he was responsible for overseeing the firm’s securities research and brokerage activities focusing on Latin America. Mr. Rauch also served as an advisor to various issuers and note holders in the restructuring of corporate debt arrangements, and was an advisor to Mexico’s VVA. In the early 1990s, Mr. Rauch worked as a Vice President with Lehman Brothers and CS First Boston in their emerging market fixed income trading groups. In the second half of the 1980s, he was a Vice President and trader with First Interstate Bank’s loan syndications group, where he was responsible for structuring and syndicating loan facilities to highly-leveraged American and Asian corporations. In 1980, he began his career with Swiss Bank Corporation in several credit and corporate finance roles.

MM in Finance and International Business at Northwestern University - Kellogg Graduate School of Management
BA in Political Economy at Williams College
Member of the American Bankruptcy Institute
Registered representative of FINRA (series 7, 24 and 63)

Mr. DelVirginia has over 13 years fund accounting experience. Prior to joining Gramercy in September 2002, Mr. DelVirginia was Controller and Head of Operations at Merlin BioMed Investment Advisors, LLC, a healthcare hedge fund based in New York. While at Merlin, John was responsible for management of the financial, trading and administrative operations of the firm, acted as a client representative for limited partner inquiries and was a liaison for audit, legal and tax issues. From 1999-2000, Mr. DelVirginia was a senior accountant at The Millburn Corporation and was responsible for the administration of several hedge funds where his duties included settlement of trades, daily NAV calculations, and audit and tax issues. From 1996-1999, he worked at Rothstein, Kass & Co, P.C. as an audit supervisor under their investment partnership practice.

BS in Accounting at Montclair State University
Certified Public Accountant
Member of the New York State Society of CPAs

Mr. Kauffman has over 16 years trading and investment experience. Prior to joining Gramercy in July 2001, Mr. Kauffman traded and managed US$4billion Emerging Market Repo portfolio at Deutsche Bank from 1998 – 2000 positioning Deutsche as premier player in EM Repo. He took a leadership role in trading repo of Latin America and Eastern European bonds in New York and London. From 1996 to 1998 Mr. Kauffman was an Associate at Lehman Brothers on the Emerging Markets Sales/Trading desk. From 1994-1996 Rodd was a senior analyst in Emerging Market Corporate Actions where he was a Loan Closer and responsible for the Brady Plan Restructuring and reconciliation of principal and interest for Panama, Peru, and Ecuador.

Pursued post-graduate work in International Studies at Oxford University (Merit Medal Award)
BA in Finance/Economics at Alfred University
Registered representative of FINRA (7 and 63)

Mr. Lanava has over 14 years investment operations experience. Prior to joining Gramercy in March 1999, Mr. Lanava was Operations Manager for Van Eck Capital, Inc., a broker dealer focused on Emerging Markets, from 1998-1999. He was responsible for daily operational duties including the settlement of trades and net capitalization computations. He was also responsible for opening new accounts and setting up lines of credit. From 1997-1998, Mr. Lanava was the Settlements Officer for NCH Capital Inc., a family of hedge funds focused on Russia and the former Soviet Union, where he was responsible for the settlement of trades and custody of positions. From 1995-1997, he was Operations Specialist for First Cambridge Securities Corp., were he performed back office operational duties including margin and trade correction.

BA in Economics at Saint Anselm College
Registered representative of FINRA (7, 24 and 63)

Mr. Jani has 20 years investment experience, including 15 years in Emerging Markets. Prior to joining Gramercy in June 2009, Mr. Jani managed his own quantitative emerging markets macro strategy with London Diversified Fund Management. In 2005, he became Managing Partner of Single A Capital LLC. From 1999 - 2005 he was at Banque Paribas, where he was head of the emerging markets external debt trading group in Europe based in London, which included oversight of a profitable client flow business and investing proprietary bank capital in credit. After relocating to New York the mandate expanded to include foreign exchange, rates, and equity as well as building a quantitative business on a proprietary basis. Before that he was at Banker’s Trust International in London where he initiated a customer flow business and traded over 15 countries. From 1995 - 1998 he worked at Lehman Brothers in New York and London where he specialized in trading emerging market sovereign debt, and was active in several sovereign restructurings including Panama, Peru, and Russia. Prior to attending business school, he spent 4 years at Sanford C. Bernstein in their fixed income trading and research departments where he analyzed and helped manage various US dollar fixed income assets including corporate bonds, mortgages and treasuries. Mr. Jani is a frequently published author of various investment articles dealing with systematic and quantitative investment strategies and has studied Mandarin Chinese.

MBA in Finance and International Business at Columbia Business School, Beta Gamma Sigma
International Asian Studies Program at Chinese University Of Hong Kong
BA in International Economics at University of California, Los Angeles
CMT accreditation from the Market Technician’s Association

Mr. Griffin will focus on new business development across a diverse set of institutional investors, including endowments/foundations, fund of funds and high net worth investors such as private banking platforms, family offices and broker/dealer networks. Prior to joining Gramercy in September 2009, Mr. Griffin was employed by Lazard Asset Management for nine years where he was most recently Senior Vice President in the Institutional Marketing Group where he was responsible for developing new relationships and servicing existing clients in the corporate pension market segment.

BA in Economics from Wesleyan University
Registered representative of FINRA (series 7 and 65)

Mr. Johnston has over 26 years investment experience in emerging markets fixed income, global fixed income as well as high yield and mortgage backed securities. He was a Co-Managing Partner of Gramercy from 1999 – 2008 and serves as Chairman of the Board of Directors and Chief Executive Officer of Arco Capital Corporation Ltd. Prior to joining Gramercy in September 1999, Mr. Johnston was Managing Director and Head of Emerging Markets Fixed Income Sales at Deutsche Bank Securities, Inc. from 1998-1999 where he successfully managed a 13-person sales group that brought Deutsche Bank’s presence in the market from 13th to 6th. From 1996-1998, he was Senior Vice President at Lehman Brothers where he was the top producing EM salesperson and ranked second in the firm globally in sales production. From 1984-1996, Mr. Johnston worked in institutional fixed income, emerging market and high yield sales at a variety of institutions including ING Baring Securities, Inc., Oppenheimer & Company, Inc. and Dean Witter Reynolds, Inc. Prior to that, he was a Portfolio Manager at Patterson Capital Corporation responsible for managing a $1.3 Billion portfolio of Mortgage Backed Securities for a variety of U.S. Savings and Loans (1983-1984).

BS in Finance at University of Florida (with Honors)
Registered representative of FINRA (series 3, 4, 7, 24 and 63)