Oaktree Capital Group has entered into a joint venture with China Cinda Asset Management Corp. that will see the two groups invest in distressed assets in China. Cinda was originally set up to absorb non-performing loans (NPLs) from China’s Big Four state-owned banks, so the partnership could theoretically offer Oaktree access to assets that foreign investors have found it difficult to quantify, let alone invest in.
Cinda is poised to raise as much as $2.46 billion through a Hong Kong IPO and Oaktree is one of 10 cornerstone investors that have agreed to cover up to 44% of the offering. The joint venture, which...
Chinese gene therapy specialist Exegenesis Bio has received $20 million in Series B funding led by Legend Capital. It will be used to support clinical development of the company’s drug portfolio.
Alibaba Group has led a $300 million round for Chinese electric vehicle (EV) manufacturer Xpeng Motors. It comes barely two weeks after the company closed an extended Series C round of $500 million.
EDBI, the investment arm of Singapore’s Economic Development Board, has invested in Vesta, a US-based fraud and payment technology start-up with ambitions to expand into Asia.
Hana Financial has invested KRW100 billion ($85 million) in a portfolio of Korean waste to energy (WTE) projects controlled by Global Infrastructure Partners (GIP).