Balchug Capital 2023

Leading emerging

markets event-driven and value specialists

Who we are

Balchug Capital is an investment firm headquartered in Yerevan, Armenia. It was founded in 2010 by David Amaryan, who serves as Chief Executive Officer and oversees all investment activity.

Balchug specializes in long/short event-driven and value liquid strategies and private equity investments.

What we do

In our liquid strategies our approach is active management, with concentrated, high conviction portfolios.

In private equity strategies we seek high quality assets that are undervalued and/or distressed due to corporate, geopolitical or other events and shocks.

While our strategies are adapted to each market, discipline is at core of our approach, which is standardized and based on clear guidelines. Deep local knowledge, high quality internal research and absolute compliance with the strategy and risk management guidelines offer our investors stable, risk adjusted, uncorrelated returns.

News & views


Yerevan 0010, Vazgen Sargsyan Street 10, Piazza Grande Business Center