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.


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.


  • 19 August 2019

    Tomorrow's Titans Paul Marriage and Sanjiv Bhatia are tomorrow's titans, it's official! Both Fund Managers of BennBridge made the accomplished short list in this year's edition. read more

  • 31 July 2019

    Choosing battles in Emerging Markets Listen to this podcast to hear Greg discuss the opportunities in long-short investing in Emerging Markets which are less correlated to trade war issues between the US and China. listen to the podcast

  • 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


For all enquiries about our fund, please contact our Distribution team.

Naureen Khan

BennBridge Ltd (UK) Managing Director,
EMEA Distribution

Naureen is a senior, solutions-driven leader with over fifteen years of distribution experience in the EMEA region, also holding a CFA. She has a proven ability to take a client-focused, systematic approach to the institutional sale process, and a strong track record of raising assets across most segments (consultant, institutional and intermediary) through showcasing innovative investment solutions.
Prior to BennBridge, Naureen spent nine years at Acadian Asset Management. Her experiences cover a wide range of strategies spanning across equity, absolute return, and multi-asset strategies, with a focus on ESG/impact focused solutions

Robert Bernstein

BennBridge US LLC President,

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