Moody Aldrich Partners has committed $300 million to funds managed by Sandglass Capital, providing anchor capital to support Sandglass’ emerging-market, event-driven strategy focused on sovereign and corporate special situations across Eastern Europe, Latin America, the Middle East, and South Asia.
Sandglass, founded in 2013, invests primarily in distressed and stressed credit tied to restructurings, turnarounds, and market dislocations, and said the MAP commitment will expand its ability to pursue opportunities expected to emerge across the EM landscape in coming years. MAP, a Boston-based SEC-registered investment advisor founded in 1988 that serves discreet families and institutions, said it selected Sandglass based on its team, judgment, and on-the-ground capability to engage local stakeholders and manage systemic risks.
Sandglass co-founders Genna Lozovsky, the firm’s CIO, and Michelle Kelner characterized the commitment as a long-term partnership and noted that MAP has backed only a small number of managers over its multi-decade history. MAP Executive Chairman and Co-CEO Bill Moody said Sandglass’ expertise in uncovering overlooked EM sovereign and corporate opportunities was a key driver of the decision, while MAP CIO and Co-CEO Eli Kent cited the firm’s track record in navigating restructurings and dislocations.
Sandglass Capital operates globally with offices in New York, London, and Dubai, and manages a suite of funds investing in public and private securities tied to emerging-market special situations.
KEY QUOTES:
“We are honored to have been selected by MAP, an astute long-term investor whom we deeply respect. Their commitment enables us to take advantage of the wide range of opportunities in emerging markets in the coming years.”
Genna Lozovsky, Co-Founder and Chief Investment Officer, Sandglass Capital
“This commitment by MAP adds Sandglass to a very short list of firms to receive its backing over their 37 years of investing. We look forward to a mutually rewarding partnership for years to come.”
Michelle Kelner, Co-Founder, Sandglass Capital
“Uncovering overlooked emerging markets sovereign and corporate opportunities requires the acumen, judgment and expertise we found most evident in Sandglass Capital.”
Bill Moody, Executive Chairman and Co-Chief Executive Officer, Moody Aldrich Partners
“Sandglass has built an exceptional team. Their acute understanding of and ability to capitalize upon restructurings, turnarounds and market dislocations — as well as their ability to engage with local decision makers and mitigate systemic risks — were some of the many factors that inspired our conviction and decision to invest in the firm.”
Eli Kent, Chief Investment Officer and Co-Executive Officer, Moody Aldrich Partners
