IMM Private Equity has made the first investment under its newly launched credit strategy, picking up a 40% stake in SK Lubricants, which is controlled by Korean conglomerate SK Group, for KRW1.09 trillion ($984 million).
A combination of improved collateral, rising yields and robust demand is drawing investors to China’s direct lending space. Opportunities abound, but local execution remains critical
The merger of Ares Management and SSG Capital is among the largest ever seen in Asian alternatives. They are now pushing into new markets and segments, leveraging the combination of size and local resources
Ontario Municipal Employees Retirement System (OMERS) recently backed a spinout of Olympus Capital Asia’s credit team as Orion Capital Asia. Ani Deshmukh, a director with the Canadian pension fund, explains its regional strategy
GPs are placing greater emphasis on Asia private debt strategies to capture deals that don’t work as private equity. Much can be achieved by pooling ideas and resources, but collaboration isn’t as straightforward as it seems
Chinese electric vehicle (EV) manufacturer WM Motor has secured RMB11.5 billion ($1.78 billion) in debt from domestic banks. It follows a RMB10 billion equity funding round featuring several government investors.
Olympus Capital Credit has rebranded as Orion Capital Asia, with OMERS replacing Olympus as the firm’s equity partner. The strategy is unchanged, with COVID-19 helping to drive deal flow
COVID-19 has emphasized the need for patience and mandate flexibility in private credit, industry participants told the AVCJ Forum.
Finova Capital, an Indian small business lending start-up, has raised $55 million in equity and debt, including $35 million in equity from Sequoia Capital India and Faering Capital.
Singapore used car marketplace Carro has raised S$150 million ($110 million) in debt and equity, including an unspecified equity contribution from Japan’s MS&AD Insurance and Mitsubishi Corp.
Apollo Global Management and India’s ICICI Venture have agreed to terminate Aion Capital Partners, a joint venture that manages a special situations fund in the country.
China’s local currency mezzanine capital space is underpenetrated, underpopulated and different to comparable strategies elsewhere. A handful of domestic GPs have begun to get traction. Will others follow?
With other pools of capital running dry for many companies, private debt has become a more appealing proposition. Institutional funds have a chance to impose themselves on a bank-driven market
Distress and special situations investors will see plenty of opportunities in Asia’s middle market as companies struggling with coronavirus-driven liquidity issues consider restructuring options, according to debt advisory firm Zerobridge Partners.
Recent industry feedback suggests middle-market companies across Asia will increasingly look to private credit to support future growth. Europe may offer clues as to how the expected uptake will unfold
Manulife Investment Management is easing into its first Asian private markets drive with a focus on optionality. Private credit, infrastructure, and real estate are early areas of interest
Raj Makam, co-portfolio manager for Oaktree Capital’s middle-market finance group, discusses the dangers that may await investors in the overheating US direct lending space
LPs are mixing up their approaches to infrastructure as shifts in supply-demand dynamics converge with increased specialization requirements in next-generation projects. Asia remains the unproven goldmine
Indian co-working space provider GoWork has raised a $53 million round of debt financing led by BlackRock’s private credit team, with participation by CLSA Capital Partners’ special situations group.
The winners from a widely anticipated shakeout in global credit markets will be defined by different qualities. Direct lenders expect size to be a decisive factor, while distress players prioritize nimbleness
Australia’s Retail Food Group (RFG) has received a A$160 million ($111 million) recapitalization proposal from Asia-focused special situations investor SSG Capital Partners.
India-focused venture debt platform Alteria Capital has committed INR800 million ($11.5 million) to Lendingkart, a financial technology platform with several VC investors.
Lending Ark Asia, a private credit division of CLSA Capital Partners, has led a $35 million extension to a Series B round for South Korean lending marketplace PeopleFund.
Paul Sanford, CIO of credit-focused impact investment firm TriLinc Global, explains why Southeast Asia has proved a challenging market and how he is preparing for a spike in institutional investor interest