Bad debts accumulated by China’s state banks have been targeted by distressed asset investors for about a decade, with mixed results. The high-profile auctions of the mid-2000s that attracted the likes of Avenue Capital and Mellon are no more. Foreign investors are enjoying the most success on the fringes, pursuing assets on a smaller scale in lesser known areas.
The four asset management corporations (AMCs) set up to handle bad debts emanating from the Big Four state banks, still have about $100 billion in legacy assets on their books, much of it from 10 years...
Lewis Rutherfurd of Inter-Asia Venture Management, Brooks Zug of HarbourVest Partners, Dan Carroll of Brooklands Capital Strategies, and Piau-Voon Wang on how private equity got started in Asia
Indian mid-market private equity firm Paragon Partners has closed its debut fund at $120 million.
Tencent Holdings has led a $40 million Series C round of funding for Shenzhen-based Ubtech Robotics, a humanoid robot maker backed by CDH Investments and Goldstone Investment.
Emerald Media, an Asian investment platform created by KKR, has led a $65 million Series B funding round for Thailand-based online retailing services company aCommerce.