Gemcorp Capital

Atanas Bostandjiev, the firm's founder and CEO, leads the investment committee. His background includes senior emerging-markets roles at VTB Capital and Merrill Lynch, where he originated and structured sovereign-linked financings. The firm's decision-making is centralized around a small London-based senior team with a commodity-trading and structured-finance background.

Gemcorp's public-facing communications do not identify excluded sectors, but its portfolio demonstrates a narrow focus on hard infrastructure, energy, and food supply chains. The firm has no known exposure to consumer internet, enterprise software, or healthcare services. Its reliance on export credit agency insurance effectively restricts it to tangible, sovereign-linked assets in markets where such cover is available.

Gemcorp integrates political-risk and trade-credit insurance from export credit agencies, including UK Export Finance, into its deal structuring. This insurance backstop is central to its capital model, allowing the firm to offer investors hard-currency returns underwritten by OECD government-backed insurers, rather than relying on host-government payment guarantees alone.