Gramercy Offers ‘Best Ideas’ Fund

May 17 2011 | 2:03am ET

Emerging markets hedge fund Gramercy has launched a multi-strategy best ideas vehicle with more than $100 million.

The Connecticut firm’s Master Fund debuted on April 1, MarketWatch reports, seeded by a $30 million investment from an existing client. The new fund invests in the firm’s best ideas across asset classes, chief investment officer Robert Koenigsberger told clients in a letter.

Initially, the fund has 30% of its assets invested in distressed debt and global macro, with 25% in stocks and 15% in special situations. Koenigsberger explained that the fund was developed over the past few months due to client interest.

“We remain excited about the near and long-term investment opportunities we are seeing in Asia, Europe, Latin America, the Middle East and Africa,” he wrote.

Recently, Koeningsberger, in a column in The Wall Street Journal, was particularly bullish on Europe, urging market-based debt exchanges that could ease the burdens on countries such as Greece and Ireland, creating “less of a need for harsh austerity measures that can lead to social disorder, and, soon after, unruly defaults.”


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