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Alternative Market Briefing

Albright Capital puts a value lens on emerging markets

Wednesday, August 16, 2017

Bailey McCann, Opalesque New York:

Over the past decade, investors have steadily increased investments in emerging markets private funds. Allocations to the cohort have increased from $93 billion in December 2006 to $564 billion in September 2016, according to data from research firm Preqin. However, country funds and regional funds haven't always delivered when it comes to performance. As a result, investors are looking for more differentiated strategies, according to Gregory Bowes, Co-Founder and Managing Principal at Albright Capital.

Albright Capital may know a bit more than most about the best way to play emerging markets. The value oriented firm gets its name from Chair and former Secretary of State Madeleine Albright. The firm also has a relationship with Secretary Albright's consulting firm Albright Stonebridge Group, which helps to facilitate commercial diplomacy worldwide. Rather than taking a country-specific or regional approach to emerging markets, Albright Capital focuses on mid-market companies looking at individual transactions.

"We know there are a lot of country and regional funds in the market, but we don't think that is compatible with value investing, which requires a global and local perspective," Bowes says in an interview with Opalesque. For him, there are plenty of value oriented opportunities in emerging markets given the volatility and inefficiency in developing markets, but it's hard to forecast those opportunit......................

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