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Former JP Morgan managers join $2.6bn Gramercy to launch three new EM debt strategies on July 1st

Wednesday, June 30, 2010
Opalesque Industry Update - Former Heads of JP Morgan Asset Management’s Emerging Markets Debt Group to Establish New EMD Strategies

Gramercy today announced that Jeffrey Grills, 38, and Gunter Heiland, 43, have joined the firm to establish new investment management strategies focused on emerging markets debt. Mr. Grills and Mr. Heiland join Gramercy from JP Morgan Asset Management (JPMAM), where they served as portfolio managers and co-heads of the Emerging Markets Debt Group where AUM peaked at $12 billion under their leadership.

Gramercy, a dedicated emerging markets investment manager, is headquartered in Greenwich, CT and was founded in 1998. Today the firm manages over $2.6 billion in a number of emerging markets investment strategies. The firm has 62 employees of which 31 are dedicated investment professionals.

On July 1st the new team will launch three emerging markets debt strategies: emerging markets US dollar sovereign debt, emerging markets local currency sovereign debt, and emerging markets corporate debt. Mr. Grills and Mr. Heiland will be collaborating with Robert Rauch, a Gramercy Partner and Head of Research, to co-manage the emerging markets corporate debt strategy that synthesizes their respective strengths.

Robert Koenigsberger, Founder and Chief Investment Officer of Gramercy, said, “We are delighted that Jeff and Gunter have joined Gramercy as it accelerates our ability to offer clients a complete suite of emerging markets investment strategies on a single platform. Gramercy now has a significant presence in the performing sovereign and corporate debt markets that complements our current capabilities in the distressed debt areas of emerging markets, where we have been the market leader for over 12 years. We are uniquely positioned to enable our clients to seamlessly asset allocate across all emerging markets debt, spanning performing and distressed credits.”

Prior to joining Gramercy, Mr. Grills was employed at JP Morgan since 1993 and has over 16 years of investment experience. Within JPMAM, his primary responsibilities included overseeing all investment functions for the Emerging Markets Debt Team and focusing on risk management and portfolio construction. Mr. Grills is a CFA charterholder and received a BS in mathematics and economics from Duke University.

Mr. Heiland was employed at JP Morgan since 1997 and has over 20 years of investment experience. Along with Mr. Grills, Mr. Heiland managed all investment functions for the Emerging Markets Debt Team at JPMAM and focused on trading and implementation. Mr. Heiland began his career at Salomon Brothers, graduating from the Sales and Trading program and then moving on to the Government Desk. He holds a BS degree from Rensselaer Polytechnic Institute.

“Gramercy’s singular commitment to emerging markets investing is extremely compelling to us,” said Mr. Grills. “We want to be part of a group whose expertise complements our team and understands the opportunities to invest as we do.”

“Investor demand for emerging markets debt exposure continues to grow given this market’s $2 trillion size, broad diversity of credit issuers, geographies and currencies, and a return profile that produced better results with significantly less volatility than other markets over the past decade,” said Mr. Heiland. “We know investors will benefit from Gramercy’s ability to access multiple segments of emerging markets investments via a single platform.”

Gramercy is a dedicated emerging markets investment manager based in Greenwich, CT. The firm offers investors superior risk-adjusted returns through a comprehensive approach to emerging markets supported by a transparent and robust global platform. Gramercy offers both alternative and long-only strategies across all asset classes (external debt, local currency debt, corporate high yield debt, distressed debt, equity, macro, private equity, and special situation).


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