Gemcorp, the London-based emerging markets asset manager, is linked to a potential investment in lossmaking Northampton Town Football Club. Public filings suggest a connection between Gemcorp and Sports Alpha Capital, a Brazilian consortium involving former AC Milan forward Alexandre Pato, which is reportedly backing an offer for the club. Northampton Town, relegated to League Two, reported a nearly £3mn pre-tax loss and £10mn in net debt for the year to June 2025. The club confirmed a well-funded investment group had offered to invest, with the deal under review by the Independent Football Regulator. James Whiting, the club’s chief executive, stated progress continues despite a non-disclosure agreement.

Sports Alpha Capital, which recently made an abortive bid for Colchester United, registered a Delaware company named after Northampton Town FC. Its UK subsidiary, Invenciveis, was registered at Gemcorp’s Mayfair offices in June. Yuri Baidoukov and Felipe Berliner of Gemcorp are listed as directors, with João Vitor Xavier Marques, a Portuguese national in Brazil, as the person with significant control. Xavier did not respond to requests for comment.

Gemcorp, founded in 2014 by Atanas Bostandjiev, has historically focused on emerging markets, particularly Angola, and more recently the Gulf and private credit. The firm closed its Moscow office in 2022 and has denied any support for the Russian state or Rostec, despite founder Bostandjiev’s former role at VTB Capital and early ties to Russian billionaire Albert Avdolyan, who was sanctioned by the US in 2023.