A strategic partnership. An agreement involving funding of up to $500 million between the Malagasy Sovereign Wealth Fund (FSM) and the investment firm Gemcorp Capital Limited was signed on Wednesday in New York. According to a statement from the presidency, this funding is expected to contribute to the development of projects considered priorities by the government, including infrastructure, energy, and water.
The agreement was signed on Wednesday at the premises of Madagascar’s mission to the United Nations, in the presence of the President of the Refoundation, Colonel Michaël Randrianirina, and Atanas Bostandjiev, founder and CEO of Gemcorp Capital Limited. On the Malagasy side, the partnership was signed by Andriniaina Raharinomena, Chairman of the Board of Directors of the FSM.
Beyond the funding, the agreement is intended to establish a framework to ensure the operation of the FSM, strengthen its financing capabilities, mobilize capital from partners, and direct it toward immediate investments, the presidency added.
Founded in 2014 by Atanas Bostandjiev, Gemcorp Capital is an investment firm specializing in emerging markets. Its activities cover private credit, commodity-backed financing, and financial markets. In the private credit sector, Gemcorp provides dollar-denominated financing, typically asset-backed, to companies and governments in emerging markets. The group emphasizes long-term partnerships and an approach based on local market knowledge.
Captured & Published at: 2026-09-24 11:08:34 (Madagascar Local Time EAT)
Original Source: https://www.2424.mg/financement-le-fonds-souverain-malgache-et-gemcorp-capital-limited-signent-un-partenariat-assorti-dune-enveloppe-de-500-millions-de-dollars/
