A lifetime of knowledge

Felipe Berliner

23 February 2022 • London

We have this DNA of emerging markets credit, that's what we've done our whole careers and we wanted to do what we did best in an environment that was designed for that.
I'm Felipe Berliner. I'm the head of structuring of Gemcorp and I'm one of the founding partners of the firm.

Flexibility to Succeed

I come from Brazil. I work with emerging markets my whole life. I never worked with other markets per se. So, there is a level of knowledge of how to handle transactions that are slightly different. Things are not so black and white. The process is not so simple and straightforward. You have to know how to operate within an angle of certainty. You need to say, OK, that's the direction I have to go and I'm going to get there in the end. You have to deal and make decisions in an environment that you don't have all the information in hand, and you get to the objective you want, by not being so stiff but more flexible and understanding what's going on in the process.

An Emerging DNA

The upside of emerging markets is quite clear. The developed markets are flooded with cash. Central banks are pouring cash into the economy, so the availability of cash is huge in developed markets. So, we decide to go to the places where our $1.00 is worth more.

To get our money and invest it in the USA market. No point. We rather invest where the scarcity of capital where our money is transformational, and we make a difference to the actual projects to the actual border to our clients.

A Global Advantage

I think the same way the merger of the backgrounds of investment banking and the backgrounds of commodity traders and legal backgrounds etc. They merged together to form something that is professional is very powerful.

The fact that we have so many nationalities, so many backgrounds represented in the trading floor and across our various offices is also very powerful. We invest in emerging markets. so having someone that has deep knowledge for being from that place, of course it's a huge advantage and that goes not only on our local offices, but even in our headquarters here in London if you if you look around, it's hugely diverse. We have so many different nationalities represented here in the very core of Gemcorp, most of us are coming from emerging markets.

A Transformational Solution

One of the key differentiators is that if you look into the Pure Credit private credit investors, they are structured in the traditional way of a private equity firm. Here they raise money. They call the capital. They find the opportunity. They’re under pressure to actually deploy that capital. That's not the way we operate. At the same time. They're going to the other side of the spectrum. You look at the large commodity companies. They are focused on the commodity exposure. While the credit element and the funding for them is a nuisance, that's not what they like to do. And so, when a client looks for commodities, they need to look for the funding separately. So, what we designed by starting Gemcorp commodities in 2015 is a combination of the two elements we provide the whole solution. We provide the funding. And we provide the goods that our clients are looking for, and I think that was really transformational on the way we operate on the growth of the company and to who we are today.

For the second video in our Brighter Perspective series, we're introducing Felipe Berliner. Felipe talks about how working with emerging market nations is not so black and white.

However, a lifetime of knowledge has been curated by Felipe and our colleagues over the years, helping to make a real difference to the projects, societies, and clients within the countries that we invest.
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