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Gramercy Funds Management and the Republic of Peru Settle International Arbitration Award for $85 Million

Dec 04, 2024•over 1 year ago

Contract Type

agreement

GreenwichFinancial ServicesFinanceAngel InvestmentLending

Description

Gramercy Funds Management and Gramercy Peru Holdings LLC have reached a settlement agreement with the Republic of Peru, definitively resolving the final award issued by the arbitration tribunal adjudicating Gramercy’s claims under the United States–Peru Trade Promotion Agreement. Pursuant to the settlement, the Republic has agreed to pay Gramercy US $85 million in full satisfaction of the amounts due under the Award, with an initial payment of US $45 million on November 4, 2024, and the remaining US $40 million according to a payment schedule agreed between the parties.

Company Information

Company

Gramercy

Location

Greenwich, Connecticut, United States

About

Gramercy is a global emerging markets investment manager based in Greenwich, Connecticut with offices in London, Buenos Aires, Miami, West Palm Beach and Mexico City, and dedicated lending platforms in Mexico, Turkey, Peru, Pan-Africa, Brazil, and Colombia. The $6 billion firm, founded in 1998, seeks to provide investors with a better approach to emerging markets, delivering attractive risk-adjusted returns supported by a transparent and robust institutional platform. Gramercy offers alternative and long-only strategies across emerging markets asset classes, including multi-asset, private credit, public credit, and special situations. Gramercy’s mission is to positively impact the well-being of our clients, portfolio investments and team members. Gramercy is a Registered Investment Adviser with the US Securities and Exchange Commission (SEC), a Signatory of the Principles for Responsible Investment (PRI), a Signatory to the Net Zero Asset Managers initiative (NZAMI) and a Supporter of the Task Force on Climate-Related Financial Disclosures (TCFD). Gramercy Ltd, an affiliate, is registered with the UK Financial Conduct Authority (FCA).

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