Greenwich, Connecticut-based private investment firm Gramercy Funds Management is ramping up its private credit strategy in Turkey, targeting $1bn in direct lending deals over the next two years, according to a report by Bloomberg.
The firm has already deployed half of that amount across 15 transactions in Turkey since 2018 and continues to see strong opportunities in key sectors such as food, energy, steel, chemicals, and mining.
Last year, Gramercy raised $760m for its third dedicated private credit fund and has been actively deploying capital in markets including Brazil and Mexico.
Founded in 1998 by emerging-markets veteran Robert Koenigsberger, Gramercy has built a robust private credit platform, led by Partner and Senior Portfolio Manager Gustavo Ferraro. Since 2018, the firm has deployed over $5bn in direct lending deals, reinforcing its position as a key player in emerging-market private credit.
