# Ep. 340: Robert Koenigsberger on EM Cycles, China's Turnaround, and the New Era of Private Credit

Page: https://stenobird.com/podcast/macro-hive-conversations-with-bilal-hafeez-524900/ep-340-robert-koenigsberger-on-em-cycles-china-s-turnaround-and-the-new-era-of-private-credit
Text version: https://stenobird.com/podcast/macro-hive-conversations-with-bilal-hafeez-524900/ep-340-robert-koenigsberger-on-em-cycles-china-s-turnaround-and-the-new-era-of-private-credit.md
Podcast: [Macro Hive Conversations With Bilal Hafeez](https://stenobird.com/podcast/macro-hive-conversations-with-bilal-hafeez-524900)
Published: 2026-01-07T11:34:00+00:00
Episode link: https://macrohive.libsyn.com/ep-340-robert-koenigsberger-on-em-cycles-chinas-turnaround-and-the-new-era-of-private-credit
Audio file: https://traffic.libsyn.com/secure/macrohive/MH_w_ROBERT.mp3?dest-id=1929056
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Duration seconds: 2066

## Resource

Robert is Founder, Chief Investment Officer and the Managing Partner of the $5bn EM fund, Gramercy. He founded Gramercy in 1998. Robert has 36 years of investment experience dedicated to emerging markets with a specialization in distressed opportunistic credit strategies. He is a member of Gramercy's Management Team and is Co-Chair of the Risk Management Committee. In this podcast we discuss: EM in 2025: From Caution to FOMO EM vs DM: A Role Reversal Since COVID The Problem with EM Labels & Indices China: From 'Uninvestable' to Selective Opportunity Russia–Ukraine: Asymmetry, Reconstruction, and Market Blind Spots The Boom in EM Private Credit Where the Opportunities Are in EM Private Credit Mexico, NAFTA 2.0, and Geopolitics Venezuela and the 'Trump Corollary to the Monroe Doctrine' Fed Policy: The Only Conviction Is Lack of Conviction Portfolio Philosophy: Fighting FOMO and Overtrading

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## Transcript

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