[1] The firm principally invests in high yield, emerging market fixed income instruments with a particularly long track record in sovereign debt restructuring.
Greylock Capital was cited as one of the earlier fund investors in Greek debt, investing as early as 2011 when the bonds were trading as low as 12 cents on the dollar.
[2][3][4][5][6] Greylock Capital Founder Hans Humes served as co-chair of the Global Committee of Argentina Bondholders following the Argentine Republic's debt default in 2002.
The creditor committee, co chaired by Eaton Vance Management and Greylock Capital, agreed to terms including an estimated 26% principal haircut and a new instrument maturing in 2029.
[14] Greylock Capital engaged multilateral institutions, including the World Bank, in order to effect a restructuring that was compatible with creditor rights and with the principles of debt relief under the HIPC Initiative.
[17] Other members of the Creditor Committee include Franklin Templeton Investments [18] [19] As the national financial crisis worsened and the country's banks imposed liquidity restrictions, parliament speaker Nabih Berri stated that a debt restructuring was the best solution for the disposition of the Eurobond.
As the largest commercial creditor to Liberia, Greylock Capital used its strong relationships with the existing government to lead a committee of investors to work with multilateral and non-financial partners to provide a framework for a successful restructuring of outstanding Liberian claims.
Committee discussions focused on the need to create near-term fiscal space for the country, which remains one of the world's poorest, while preserving upside for bond investors associated with Mozambique's vast offshore gas reserves.
[22] Consideration was also given to initiatives to improve transparency and resolve the scandal around undisclosed loans, both of which were viewed as critical in the country's efforts to normalize its relationship with the IMF and bilateral donors.