“Single purpose vehicles”, we sometimes come across special situations that lend themselves
to a limited life vehicle or fall outside the mandate of our current offerings.
Rather than ignore the covenants of our investors, we will create separate pools
of capital to exploit these opportunities.
GAOF investment objective is to acquire nonperforming
debt of Argentina which was not tendered to Argentina as part of its 2005 debt restructuring
(the “Untendered Bonds”). The Fund is a prime example of the opportunistic style
embraced by Gramercy, investing solely in the defaulted sovereign debt of Argentina
and seeking to capitalize on the expected restructuring of the remaining $20 billion
of defaulted Argentine debt not restructured in their previous, punitive 2005 settlement.
Gramercy is at the forefront of actively creating a consensual, mutually beneficial,
restructuring solution and is a thought-leader amongst creditors, investment banks
and other market participants.
GDAF investment objective is to acquire nonperforming debt of Argentina which
was not tendered to Argentina as part of its 2005 debt restructuring (the “Untendered
Bonds”). The Fund is a prime example of the opportunistic style embraced by Gramercy,
investing solely in the defaulted sovereign debt of Argentina and seeking to capitalize
on the expected restructuring of the remaining $20 billion of defaulted Argentine
debt not restructured in their previous, punitive 2005 settlement. Gramercy is at
the forefront of actively creating a consensual, mutually beneficial, restructuring
solution and is a thought-leader amongst creditors, investment banks and other market
participants. The Fund is differentiated from GAOF as it will not utilize leverage.
GMNPLF investment objective is to seek to achieve excess return through the active resolution of non-performing loans (NPL) in Mexico. Gramercy identified the RTC-style opportunity, tested the thesis with Gramercy Partner capital initially, and subsequently gathered investor capital in newly created private equity vehicles to purchase distressed assets at auction.