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. Positions are 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 Macro – Seeks to generate attractive absolute returns through a classic directional macro approach capturing opportunities across all major liquid asset classes (rates, credit, equity and currencies) in emerging markets. Alpha generation is sought through quantitative and qualitative inputs which identify investments and manage risk. An extensive emerging markets focused research team seeks to provide unique perspectives and an information advantage.
Emerging Markets Long/Short Equity – Seeks to generate attractive returns over a long-term market cycle through an alternative equity approach by tactically altering its exposure to emerging markets equities using a modified carve-out of Gramercy’s Emerging Markets Macro strategy. The strategy will have exposure to emerging markets equity securities ranging from 0% to 100%, with an expected average of approximately 75% over time.
Emerging Markets Multi-Asset – Seeks to generate high, uncorrelated returns that are tail-risk aware. Offers a single portfolio to provide diversified global emerging markets exposure to Gramercy’s best ideas across a variety of asset classes. The strategy accesses liquid investments in Gramercy’s distressed, credit, EM macro, equity and special situations strategies. Active asset allocation and risk controls are implemented by a highly experienced pan-emerging markets investment team collaborating at the portfolio level.
Emerging Markets NPL Portfolios – Seeks to generate attractive absolute returns by purchasing portfolios of non-performing loans from banks and other financial intermediaries. Assets can include residential and commercial mortgages, SME commercial loans, and consumer loans. Gramercy takes an approach of solutions-based negotiations enhanced by active litigation where and if appropriate.