FG Capital Management, Ltd. is an American investment management firm based in

New York City New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...

that focuses on equity investments and debt restructuring in emerging markets.Huang, Daniel
What Happens When the Vulture Funds Start Circling
''Wall Street Journal'', June 25, 2014 As part of its management of distressed assets, FG Capital investigates and exposes financial fraud by engaging politicians, governments, and international organizations to combat corruption.

FG Hemisphere Associates

FG Hemisphere Associates is a "special-purpose vehicle", managed by FG Capital, which purchases

sovereign debt A country's gross government debt (also called public debt, or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit o ...

claims where countries rich in natural resources have too little revenue from these resources ending up in the national treasury. FG Hemisphere stated that "these countries were suffering from lack of proper management, not a lack of resources" while emphasizing "governance and transparency reforms will recapture this lost revenue for the public coffers."

Sovereign debt

FG Capital Management sued the

Democratic Republic of the Congo The Democratic Republic of the Congo (french: République démocratique du Congo (RDC), colloquially "La RDC" ), informally Congo-Kinshasa, DR Congo, the DRC, the DROC, or the Congo, and formerly and also colloquially Zaire, is a country in ...

for $100 million after acquiring debts owed to

Energoinvest Energoinvest (full name: Energoinvest, d.d. - Sarajevo) is a multidisciplinary engineering and energy company with headquarters in Sarajevo, Bosnia and Herzegovina. History Energoinvest was established as a small design office under the name of ...

for $2.6 million. Former Bosnian prime minister, Nedzad Brankovic, approved the deal and was investigated on corruption charges during his stint at EnergoInvest.

Bosnian Police Law enforcement in Bosnia and Herzegovina is the responsibility of an EU-sponsored Bosnia police force to which the role of maintaining security in the region was handed over from the United Nations's 1,800 strong International Police Task Force.BB ...

reported that Brankovic acted illegally in selling the debt, which was owned by the country, but sold personally, and recommended he be charged. A court in the

Jersey Jersey ( , ; nrf, Jèrri, label= Jèrriais ), officially the Bailiwick of Jersey (french: Bailliage de Jersey, links=no; Jèrriais: ), is an island country and self-governing Crown Dependency near the coast of north-west France. It is the l ...

Islands ruled that the DRC must pay FG Capital the debt in full plus interest, a claim of $108.3 million. In 2012, the ruling was overturned by the Privy Council of

England England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest and the Celtic Sea to the southwest. It is separated from continental Europe b ...

, which blocked FG Capital from collecting on the debt.

References

{{reflist, 2

External links

Official FG Capital website
Companies based in New York (state) Financial services companies based in New York City Investment management companies of the United States American anti-corruption activists

FG Hemisphere Associates

Sovereign debt

See also

References

External links