Emerging markets investment manager Gramercy has opened an office in London.
Additionally, the firm in the early summer hired Doug Krehbiel as managing director and European regional head.
Krehbiel leads the research and the investment management process for the allocation of capital to Central and Eastern Europe, Middle East and Africa (CEEMEA) positions. He will work along with Gramercy's investment management team and is also part of the firm's centralized investment committee.
The recent hire, who will be based in London, has 18 years of emerging markets performing and distressed debt experience. He was previously at BlueCrest Capital Management where he led global emerging markets credit research. He will source regional assets as well as help manage portfolios along with other members of Gramercy in both Europe and the U.S.
Since 2003, Krehbiel has been based in London and has focused on private debt, Eurobonds and special situations throughout the emerging markets. During his 14-year stint at JPMorgan, he was a team leader for research.
"Doug's senior leadership and diverse global experience will be important to Gramercy's continued success as we expand our overall European presence and establish a true beachhead via our new London-based investment practice," said Robert Koenigsberger, managing partner and chief investment officer of Gramercy.
"We are pleased to have Doug join Gramercy's emerging markets team to oversee our CEEMEA investments as we see tremendous opportunities in the region," said Robert Rauch, partner and head of research at Gramercy, "Doug's nearly two decades of global emerging markets experience will complement the efforts of our current Eastern European team based in Bulgaria, as well as leverage the Gramercy team in all locations."
"Gramercy's long-standing commitment to emerging markets and its rigorous, collegial culture, make it a unique platform from which to exploit credit opportunities," Krehbiel said. "We will build on the firm's successes in the CEEMEA region including performing and distressed debt as well as mezzanine finance."