GAM Investments (GAM) and Gramercy Funds Management LLC (Gramercy) have entered into a strategic partnership to provide GAM’s clients with continued access to best-in-class investment specialists for its existing Emerging Market Debt (EM Debt) strategies, as well as future product innovation.
Once customary regulatory approvals are achieved, Gramercy will become the delegate investment manager for all GAM’s EM Debt investment strategies, GAM said in a statement today (31 March).
As a prominent investment management firm with $6bn in AUM, Gramercy said it seeks to provide investors with a better approach to emerging markets. With extensive experience through many credit cycles, Gramercy is well positioned to capitalise on the evolving macro environment impacting current and future emerging markets investment landscapes.
Founded in 1998 by managing partner and chief investment officer, Robert Koenigsberger and chaired by Mohamed A. El-Erian, Gramercy said it demonstrates a long standing, strong track record across a wide range of emerging market debt strategies, with a fully integrated risk management and ESG construct.
Its global footprint encompasses local offices in West Palm Beach (Florida), Greenwich (Connecticut), London (England), Buenos Aires (Argentina), Miami (Florida), and Mexico City (Mexico) and dedicated lending platforms in Mexico, Türkiye, Peru, Pan-Africa, Brazil, and Colombia.
Gramercy’s deputy chief investment officer and head of EM debt, Philip Meier, will be an integral component of the investment management of GAM’s EM Debt strategies.
Meier, who brings more than 18 years of investment experience to the partnership, is an emerging markets specialist, innovative thought leader and has been instrumental in providing portfolio management direction over the course of his accomplished career.
Paul McNamara, GAM's investment director for EM Debt, has decided to retire after 28 successful years in the asset management industry. GAM has been privileged to have McNamara and his team invest on behalf of clients worldwide through various market cycles and macro events over the last thirteen years.
McNamara will remain at GAM until his retirement later in 2025, ensuring a smooth transition of the EM Debt strategies to Gramercy’s experienced team. Markus Heider, Investment Manager, will remain with GAM as we transition to Gramercy and continue to work with our clients and Gramercy to deliver superior insight, product innovation, oversight and portfolio returns consistent with our objectives.
Paul McNamara, investment director said: “I am incredibly proud of what we have achieved at GAM and for our clients over the years. As I prepare for my retirement, I look forward to an orderly handover to Gramercy's experienced team, and I am confident that they will deliver excellent results and market insights for our clients.”
Robert Koenigsberger, managing partner and chief investment officer of Gramercy Funds Management said: “We are excited to partner with GAM to collectively deliver differentiated investment solutions to clients. We believe Gramercy’s “Better Approach to Emerging Markets”, in combination with our investment acumen, will facilitate our mutual commitment to positively impact the portfolios of our clients.”
Elmar Zumbuehl, group CEO at GAM said: "On behalf of GAM and our investors, I would like to thank Paul for his dedicated service and camaraderie over the years. We wish him all the very best in his retirement. As we move forward, we are delighted to embark on this strategic partnership with Gramercy, leveraging their extensive experience in emerging markets. We believe this collaboration positions us strongly to pursue significant value and attractive risk-adjusted returns for our clients."
