Greylock Capital Management

Greylock Capital Management
Private
Industry Asset Management
Founded 2004
Founder Hans Humes (CEO)
Headquarters New York, NY
Key people
 AJ Mediratta (Co-President)
Diego Ferro (Co-Chief Investment Officer)
Products Hedge Fund
Emerging Markets
Website GreylockCapital.com

Greylock Capital Management LLC (Greylock Capital) is a U.S. Securities and Exchange Commission registered alternative investment adviser that invests in undervalued, distressed, and high yield assets worldwide, particularly in emerging and frontier markets. The firm's investor base consists largely of institutional investors, including sovereign wealth funds, pension funds and insurance companies. Greylock Capital is based in Manhattan and maintains additional offices in Singapore and Ghana.

As is common with many asset management firms, Greylock Capital is organized across a series of onshore and offshore limited partnerships. The fund products managed by Greylock Capital have received numerous accolades from entities such as Bloomberg, BarclayHedge and Barron's. Additionally, the firm was awarded an International Fund Award for US Emerging Markets Investment Team of the Year and High Yield Assets Investment Advisor of the Year from AI Global Media and Acquisition International Magazine,[1] a vanity award.

History

Greylock Capital was founded in 2004 by Hans Humes from a portfolio of emerging market assets managed by Humes while at Van Eck Global. Additional equity partners include AJ Mediratta, who joined the firm in 2008 from Bear Stearns,[2] and Diego Ferro, who joined in 2009 from Goldman Sachs[3]

Restructuring activity highlights

Greylock Capital and its partners have participated on a number of corporate and sovereign debt restructurings in emerging markets. A selection of the firm's sovereign debt restructurings is below.

  • Argentina: Greylock Capital Founder Hans Humes served as co-chair of the Global Committee of Argentina Bondholders following the Argentine Republic's debt default in 2002. The Argentine default is the largest sovereign default in history.[4][5]
  • Greece: Greylock Capital serves on the steering committee of investors engaged in the Greek sovereign debt restructuring. Humes was the sole American representative on the Greek bond steering committee. The firm was cited as one of the earlier fund investors in Greek debt, investing as early as 2011 when the bonds were trading as low as 12 cents on the dollar.[6][7][8][9][10][11]
  • Ivory Coast: Greylock Capital was a member of the creditor committee that worked to restructure $2.2 billion USD in debt of the Republic of Ivory Coast.[12]
  • Belize: Greylock Capital chaired the creditor committee for an investor group working to restructure a large portion of the outstanding $544 million USD sovereign debt of the nation of Belize.[13][14][15]
  • Liberia: Greylock Capital served on the creditor committee of an investor group restructuring Liberia's pre-crisis debt, a transaction which enabled the country to reaccess international capital. Greylock Capital was highlighted for its negotiated method of sovereign debt restructuring.[16]

References

  1. ↑ 2013 AI Global Media International Fund Awards
  2. ↑ Mediratta to start hedge funds for Greylock, Pensions & Investments, June 13, 2008
  3. ↑ Ex-Goldman Exec Joins Greylock Capital, Institutional Investor's Alpha, September 11, 2009.
  4. ↑ Timeline: Argentina's Road to Ruin, The Washington Post, October 3, 2003
  5. ↑ Argentina Bonds Rally Despite Risk, The Wall Street Journal, Sept. 29, 2013
  6. ↑ Greylock: It’s all Greek to us, The New York Post, February 9, 2013
  7. ↑ Legal Memorandum Summarizing Recent Argentine Legislation and Bondholder Remedies
  8. ↑ United Nations Report of the Joint Committee on Strengthening the Framework for Sovereign Debt Crisis Prevention and Resolution, page 17.
  9. ↑ Greece seeks new debt deal, CNN, February 4, 2015.
  10. ↑ Bondholders Could Lose Big In Greece Bailout Plan, National Public Radio, February 20, 2012.
  11. ↑ Tsipras a Mix of Crazy and Brilliant: Greylock's Humes, Bloomberg, July 6, 2015.
  12. ↑ Developing Nations Anxiously Watch Fed at Jackson Hole, Foreign Policy Magazine online, August 21, 2014
  13. ↑ Belize Default Looms as Negotiations Continue, Wall Street Journal, September 19, 2012.
  14. ↑ Default Concerns Make Belize Bonds Worst in Emerging Markets Bloomberg Business, July 31, 2012
  15. ↑ IBID, The creditor group led by Greylock Capital held approximately $300 million USD of the $500 million USD in outstanding sovereign debt.
  16. ↑ BBC Liberia Debt Restructuring, BBC News, March 2, 2010

See also

Asset management company

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