All Insights
Emerging markets have the minerals. Capital has to catch up.
<p>Emerging markets dominate the world's critical mineral reserves. Developing these resources requires capital, and private credit has a big part to play.</p>
13 April 2026
Commodity Watch: The Physical World Always Wins
<p>Corn prices doubled between 2007-2008 driven by a variety of factors: droughts, demand, and new uses (ethanol). But the primary culprit was an influx of speculator capital into commodities. </p>
13 April 2026
Commodity Watch: Illusions of independence
A man is trapped in a vault filled with gold. He tells himself I now have enough gold to buy all the food I need. But he can’t, he is stuck in a vault.
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Similarly, the US is swimming in crude that it cannot consume because it requires (like everybody else) a set of refined petroleum products critical for everyday life. Oil imports are needed because the existing US refining system requires heavy oil which is not produced by shale.
6 April 2026
Gemcast Episode 11: Developed market private credit is under strain – time to look elsewhere?
<p>Felipe Berliner, Co-Founder and Head of Structuring at Gemcorp Capital, returns to Gemcast to unpick the cracks showing in developed market private credit – from rising concentration risk and covenant erosion to its growing overlap with public markets. </p>
1 April 2026
Thinking against the current: The best instrument in the toolbox
Investors can learn far more in the early-morning light of an emerging market city than they ever will from a London desk.
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Our industry has become increasingly comfortable doing things remotely. With the help of artificial intelligence, 24-hour news cycle, unlimited social media “reporting” and opinions, expertise is easy to come by these days. And with the ubiquitous use of video conferencing, the world seems to be at our fingertips. Yet for all these advances, things always look different on the ground
31 March 2026
Commodity Watch: Power Shifts with Petrodollars
<p>Commodity disruptions are not confined to physical markets. They spill over into financial ones. Supply constraints have rippled across the globe, affecting industries, sectors and economies. Will the US dollar be next? The USD sits at the centre of the commodity complex and could suffer collateral damage from Gulf War III as surpluses and resources shift and change.</p>
30 March 2026