FG Hemisphere
| Company type | Private |
|---|---|
| Industry | Investment management |
| Headquarters | New York City , United States |
| Products | Equity investments, debt restructuring, distressed asset management |
FG Capital Management, Ltd. is a United States-based investment management company located in New York City that concentrates on equity investments and debt restructuring within emerging market economies. The firm specializes in handling distressed assets by uncovering financial misconduct and collaborating with government officials, political figures, and global institutions to combat corruption.
FG Hemisphere Associates
Operated by FG Capital, FG Hemisphere Associates functions as a "special-purpose vehicle" that acquires sovereign debt claims from countries abundant in natural resources but experiencing inadequate revenue inflows to their public coffers. The organization prioritizes reforms in governance and transparency to facilitate the recovery of misappropriated public funds.
Sovereign debt
FG Capital initiated legal action against the Democratic Republic of the Congo, seeking $100 million after purchasing debts originally owed to Energoinvest for $2.6 million. This transaction received authorization from former Bosnian prime minister Nedzad Brankovic, who was later investigated for corruption connected to his involvement with EnergoInvest. Bosnian officials concluded that Brankovic’s sale of the debt was unlawful and recommended prosecuting him. Initially, a Jersey court mandated that the DRC pay FG Capital $108.3 million plus interest; however, this ruling was overturned in 2012 by the Privy Council of England, preventing FG Capital from enforcing the debt collection.
See also
- Asset management company
- Corporate governance
- Distressed securities
- Distressed securities fund
- List of asset management firms