Unlocking Value Globally ®

Active Ownership in Emerging Markets ®

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Cartica Management, LLC is a concentrated, “active owner” in small and mid-cap companies in the emerging markets. Founded by a team of emerging markets and corporate governance experts that includes former executives of the International Finance Corporation (IFC), a member of the World Bank Group, the firm actively engages with management teams, boards, and shareholders to drive long-term, value enhancing improvements in corporate governance, environmental and social factors.

Headquartered in Washington, D.C., the firm is majority women-owned and a registered investment advisor with the United States Securities and Exchange Commission (SEC).

Our Approach

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Bottom-Up Company Selection

We perform rigorous analysis of the company’s financials and business model in private-equity style depth.  We assess the integrity of management, board and shareholders, and we review the treatment of minority shareholders.

Top-Down Country Selection

At Cartica, we believe differentiation among emerging market countries is a key competitive advantage to our investment approach.


We work pro-actively with each of our companies and tailor our engagement strategies to the structural nuances of emerging market companies and the capital markets in which they operate.

Our Professionals

  • Teresa C. Barger
    Co-Founder & CEO

    Ms. Barger, Co-Founder and CEO of Cartica, is a leading portfolio manager in Emerging Markets, with over 30 years experience managing global investments in developing markets. Prior to co-founding Cartica, Teresa was a senior member of the International Finance Corporation, where she held numerous positions during her 20+ year tenure.

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  • Farida Khambata

    Mrs. Khambata is one of the world’s foremost experts on emerging markets. As Co-Founder, she helps shape Cartica’s investment approach. Her expertise is supported by her more than 30 years tenure as a senior member of the World Bank and International Finance Corporation.

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  • Steven J. Quamme
    Co-Founder, President & COO

    Mr. Quamme is Co-Founder and Senior Managing Director at Cartica and is a member of the Investment Committee. He has extensive investing and operations expertise, and helps oversee Cartica’s investments, portfolio construction, and operations. Before co-founding Cartica, he was founder and COO of a private investment fund focused on governance and relational investing in the U.S.

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  • Emily Alejos, CFA
    Senior Managing Director & CIO

    Ms. Alejos is a Senior Managing Director and the Chief Investment Officer of Cartica.  She is also a member of the Investment Committee. A seasoned investor, she has more than 25 years’ experience investing in emerging markets equities.

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