China wants to use securitization and debt-for-equity swaps to address its non-performing loan problem. Even without structural concerns and political agendas, they are unlikely to supplant portfolio sales
The credit and distress investment opportunity is significant – and expected to grow – but an on-the-ground presence is seen as essential to accessing it, industry participants told the AVCJ China Forum.
Foreign private equity firms are positioning themselves to address an anticipated surge in non-performing loan sales to third-party investors. Will the reality match the hype?
A stronger commodity price environment has spurred some opportunistic private equity investment in Australian mining services, but caution remains the mantra in this industry of capricious value drivers
Xiaolin Zhang, co-founder and managing partner of Shoreline Capital, discusses non-performing loan (NPL) investment opportunities in China
Ilfryn Carstairs, co-CIO of Värde Partners, discusses distress and structured credit opportunities globally and in Asia
PAG Asia Capital spent 12 months negotiating over Golden Apple Education Group, but emerged with the first sizeable buyout-cum-restructuring by a foreign PE firm in China
Allegro carves out JSW Australia from bankrupt Hughes Drilling with a view to capitalizing on the country's gradual mining rebound
George Hicks, CEO and CIO of global credit investor Värde, on looking beyond big default cycles, taking advantage of bank retrenchment opportunities, and the importance of building strong local teams
ShoreVest Capital Partners is bidding on its first Chinese non-performing loan (NPL) portfolios since the core team members departed Shoreline Capital.
Xiaolin Zhang, co-founder and managing partner at China-focused distress specialist Shoreline Capital, discusses the NPL opportunity and what private equity firms must do to address it
Henry Kravis, co-founder of KKR, emphasized the importance of Asia’s rising middle class and the diversification of his firm’s investment approach as continued volatility globally is likely to deliver both uncertainty and opportunity.
Keystone Private Equity has agreed to acquire distressed Korean construction company Dongbu Corporation for KRW206 billion ($174 million).
India’s distressed asset sector is seeing a surge in investor interest as regulators indicate support for a tougher approach by creditors. PE investors looking to enter this space must develop sustainable strategies
KKR has formed a partnership with China Orient Asset Management and China Orient Summit Capital (COS Capital) to make credit and distressed opportunities in the country, with real estate likely to be a key area of focus.
Oaktree Capital Management will contribute to a $175 million restructuring package for Australian surfwear brand Quiksilver, which has voluntarily taken its US business into bankruptcy.
China’s slowing growth has created a wave of corporate defaults, and these bad debts should be put up for sale. Not all foreign investors are ready to jump in, though, conscious of the difficulties in extracting value
There are various ways for PE investors to seek legal recourse against portfolio companies that have behaved improperly – provided they have structured deals properly and don’t mind getting their hands dirty
Robert Petty, managing partner and co-founder at Clearwater Capital Partners, explains why a strong credit and special situations investment strategy in Asia often involves going against the grain
The message has always been: Look at what’s happening in the US and Europe to get an idea of what is likely to happen in Asia. The follow-up question: Okay, but when? The answer: Soon, but not yet.
KKR expects to see increasing restructuring and recapitalization opportunities in China as the country’s role in the global economy adjusts, resulting in a sustained period of slower growth.
JKL Partners and a unit of South Korean agricultural conglomerate Harim Group have been named by a local court as the preferred bidder for bankrupt shipper STX Pan Ocean.
The Australian operation of Jones the Grocer, a gourmet food retailer majority-owned by L Capital Asia, has gone into administration but is expected to stay open while undergoing a restructuring.
Australian vacuum and cleaning products retailer Godfreys Group, which was acquired by Unitas Capital and Pacific Equity Partners (PEP) and then taken over by creditors after running into trouble, is preparing to go public following a turnaround.