Pembroke is a Global Emerging Markets long/short strategy founded by Sanjiv Bhatia.

About Us

Pembroke Emerging Markets ("Pembroke") is a BennBridge boutique, founded by Sanjiv Bhatia and supported by an experienced investment team. Sanjiv and co-fund manager Gregory Mariasch operate as portfolio managers for BennBridge, the appointed investment manager.
 


 

Pembroke's Value Proposition

  • Team: Experienced CIO and team with over 60 years’ combined experience investing in Asia and Emerging Markets.
     
  • Risk Management: Careful trade construction, investment discipline, and the use of hedging instruments across the capital structure allows the strategy to achieve low directional exposure, control volatility and limit drawdowns.
     
  • Opportunity Set: Opportunistic, across the capital structure investing, based on four-factor framework.
     
  • Information: Strong industry and company connections, meeting a substantial volume of companies per year.
     
  • Portfolio Liquidity: Typically 90% of AUM will be invested in liquid instruments.

Team

Sanjiv Bhatia

Founder, CIO

Sanjiv Bhatia is the Founder and CIO of Pembroke*, a BennBridge boutique, focused on a global Emerging Markets long-short strategy. He has over 25 years’ experience investing across Emerging Markets with a track record dating back to 2005. Most recently Mr Bhatia was a Managing Director at the Harvard Endowment, responsible for managing Emerging Market assets from 2012 - 2017. Prior to this he was the Founder and CIO of Isometric Capital Management where he launched the Isometric Asia Catalyst Fund, which was seeded by FRM.  Between 2004 and 2008 Mr Bhatia was Managing Director and Portfolio Manager at Deephaven Asia, responsible for the Asian multi-strategy portfolio and the Asian event driven strategy. Mr Bhatia started his career at Goldman Sachs where he spent 12 years, culminating as Head of Asian Equity Trading.
 
He has a First Class Masters in Mathematics from Pembroke College, University of Cambridge.
 
 
 

Gregory Mariasch

Partner and Portfolio Manager

Greg has over a quarter of a century of deep expertise and experience investing in emerging markets, as well as a strong proven track record and success in founding business devoted to emerging market investments.
 
During his 12-year career at Goldman Sachs, Greg held roles including Head of Latin America Equity Trading, Global Co-Head of EMEA Sales & Trading, and Head of International Equity Trading. He then joined the Rohatyn Group in 2003 as a founding member and later became a partner, managing the emerging market equity strategy within a $1.3bn portfolio. In 2013 Greg returned to Goldman taking responsibility for emerging market equities within the Investment Strategy Group. Most recently, Greg held the position of CIO at Ram Capital Partners.
 
He began his career in Argentina, having originally qualified as a Chartered Accountant, before gaining an MBA at the Stern Business School, New York University. He graduated from Universidad de Buenos Aires with a Masters of Science in Public Accounting.

Luis Fernandez de Mesa

Equity Analyst

Luis is a specialist Latin America expert with over 8 years’ experience in emerging market equities. Most recently Luis was a Vice President at Evercore Partners, where he was responsible for Latin America cross-border deal sourcing and execution. Prior to Evercore, Luis was an Investment Officer at EMP Global, an emerging market focused private equity firm with $6bn in capital commitments. Luis began his career in the Latin America M&A team at BNP Paribas Corporate & Investment Banking Division.
 
Luis graduated from the CUEF in Spain with a Bachelor of Science in Economics and Business Administration and gained his MBA from The Wharton School, University of Pennsylvania.

June Choi

Equity Analyst

June is a specialist in Asian equities and global technology sector, with over 17 years’ experience as an analyst and sub-portfolio manager focused on Asia and global technology. Most recently June was a Senior Equity Analyst and Gemsstock, a global macro fund, where he focused on Asia and Japan as a sector generalist as well as global technology sector specialist. Prior to this he was a Senior Analyst and Sub-Portfolio Manager at Jabre Capital Partners, an Emerging Markets and Global equity long-short fund, where he was the top performing stock picker. June has also held Senior Equity Analyst roles at AXA Investment Management, where he led the fundamental equity research for global thematic equities (e.g. disruptive technology) and at Hermes Investment Management. Throughout his career June has remained focused on Asia (including Japan) as a sector generalist as well as global technology sector for both hedge funds and long-only funds.
 
June graduated from the Sung Kyun Kwan University in Seoul, Korea, with a Bachelors of Economics and gained his Masters in Finance from the London Business School.

NEWS & INSIGHTS

  • 10 June 2019

    At the Trade War Frontline by Sanjiv Bhatia In this Investment insight, Sanjiv Bhatia, CIO and Portfolio Manager for Pembroke, discusses his recent observation from his trip to China including trends in technology and innovation, dependence on US chips and consumption. read more

  • 3 June 2019

    Brazilian pension reform On the back of a recent research trip to Brazil, senior analyst Luis Fernandez de Mesa was interviewed about the country’s complicated post-election pension reform negotiations in a podcast hosted by “View from the Peak.” He discusses how risk assets have responded and explores possible investment opportunities to come. The potential impact on capital expenditure is also covered, along with their spillover effect on equity markets. read more

  • 29 May 2019

    On the road back from Sao Paulo Luis Fernandez, Senior Analyst, describes his four observations for outsiders from his research trip to Brazil. read more

  • 28 September 2018

    Brazil election preview Senior analyst Luis Fernandez de Mesa was interviewed about Brazil’s upcoming election in a podcast hosted by “View from the Peak.” Topics covered include how close the race is between the four candidates, the disruption caused by the stabbing of candidate Bolsonaro, the outlook for the now hospitalized Mr Bolsonaro and for Mr Haddad, former president Lula’s replacement. Toward the end of the podcast, Luis discusses the outlook for the equity market. read more

  • 7 June 2018

    A primer on the Mexican elections Ahead of the Mexican election on July 1 to elect a new President, 128 members of the Senate, and 500 members of the Lower House, among others, senior analyst Luis Fernandez de Mesa was interviewed in a podcast hosted by “View from the Peak.” In this Mexican election preview, Luis first gives a general overview of the presidential elections and then runs through several possible election scenario’s. Finally, he shares his thoughts on ways the Mexican stock market may be impacted. read more

  • 18 December 2017

    BennBridge boutique Pembroke hires ex-Goldman emerging markets specialist ahead of launch Multi-boutique investment firm BennBridge (“BennBridge”) is pleased to announce two senior hires to the investment team of Pembroke, a global emerging-market long/short equity strategy, to work alongside CIO Sanjiv Bhatia. read more

  • 11 October 2017

    BennBridge partners with emerging markets specialist Pembroke for second boutique launch BennBridge, the multi-boutique investment firm which launched into the UK last year, has launched its second boutique after partnering with emerging markets manager Pembroke. read more

CONTACT US

Ryan Durance

BennBridge Ltd (UK) Head of Business Development

Ryan joined Bennelong Funds Management in June 2015 and relocated back to London in late 2016, as part of the setup of BennBridge. Ryan has 11 years’ experience in financial services. His role encompasses building and maintaining the Firm’s client relationships across Europe, on behalf of BennBridge and Bennelong’s boutiques. He is also actively involved in BennBridge’s manager sourcing and evaluation process. 
Before joining Bennelong as Head of Institutional Sales, Ryan worked as a Product Manager at Schroders PLC. Other roles included European Sales at Cazenove Capital Management, Barclays Wealth, Coutts & Co & Merchant Investors (now Sanlam). 

Ryan has a Bachelor of Arts from Liverpool University in Modern History & Politics.

Fay Dalby

BennBridge Ltd (UK) Director of Investor Relations and Marketing

Fay joined BennBridge in September 2017 and is responsible for Marketing and Investor Relations. Fay has 11 years’ experience in financial services, most recently as an Investment Director at Odey Asset Management, where she was responsible for asset raising and developing the firm’s intermediary relationships across the UK, Middle East and Asia. Prior to Odey, Fay spent 4 years as an Investment Specialist at Man Group/GLG Partners, where she focused on the equity hedge fund and long-only strategies, working closely with institutional and retail sales in the UK and Asia. Fay began her financial career in investment banking at Lehman Brothers, where she spent 2 years in the M&A division. Fay completed a Short Service (Gap Year) Commission in the British Army, as part of the Royal Artillery. 

Fay graduated from the University of Oxford with a Masters (Hons) in Politics, Philosophy and Economics.

Barbara Safranek

BennBridge LLC (US) President
 

Barbara joined the Bennelong Funds Management Group to launch its international subsidiary, BennBridge US, in New York in 2019.  With over 20 years of broad asset management experience around the world, she is responsible for building and developing strategic relationships within the industry in addition to overseeing institutional distribution.  Her career has included senior roles in business development, investor relations, product management, and investment analysis.  She also brings a hands-on understanding of the manager selection process and other asset allocator issues due to prior experience at a family office-affiliated fund of hedge funds. 
 
Barbara holds an MBA from the Wharton School of the University of Pennsylvania and a BA from Vassar College, along with a General Course diploma from the London School of Economics.  In her volunteer leadership roles, she sits on the Executive Committee of the Wharton Hedge Fund Network and is Vice-Chair, Sponsorship for the annual Joseph Wharton Awards Dinner.  Barbara is also an active member and supporter of the New York Alternative Investment Roundtable, CFA Society New York, and 100 Women in Finance.

Eagle House
108-110 Jermyn Street, London SW1Y 6EE
PembrokeIR@BennBridge.com
www.pembroke-em.com

350 Park Avenue, 13th Floor
New York. NY 10022