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...
Beijing Shanhai Capital Management has led a consortium of investors to acquire US-based microchip manufacturer Analogix Semiconductor for more than $500 million.
Infinity Group, a China-Israel cross-border private equity firm, has partnered with Chinese IT services provider Neusoft Corporation to launch a $250 million medical technology fund.
Vertex Ventures, the VC arm of Singapore's Temasek Holdings, has led a $6 million Series A round for Indian customer experience management platform CloudCherry alongside Cisco Investments, the corporate VC arm of Cisco Systems.
Baring Private Equity Asia has agreed to buy Australia-listed risk management and standards compliance business SAI Global for an enterprise valuation of A$1.24 billion ($940 million).