Credit
China mezzanine: Not the norm
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?
Asia private debt: Inflection point?
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
Zerobridge highlights Asia distress opportunities
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.
Private credit: Untapped market
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
LP interview: Manulife Investment Management
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
Q&A: Oaktree Capital's Raj Makam
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 and infrastructure: Custom connections
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
BlackRock, CLSA invest $53m in India's GoWork
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.
Global credit: Speed or scale?
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
SSG pursues recapitalization of Australia’s Retail Food Group
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.
Alteria invests $11.5m in India's Lendingkart
India-focused venture debt platform Alteria Capital has committed INR800 million ($11.5 million) to Lendingkart, a financial technology platform with several VC investors.
CLSA backs Series B extension for Korea's PeopleFund
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.
Q&A: TriLinc Global's Paul Sanford
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
KKR supports privatization of Singapore-listed 800 Super
KKR is supporting a management-led delisting of 800 Super that values the Singaporean waste management services company at S$161 million ($118 million).
CDC makes debut Nepal investment
UK government-backed development finance institution (DFI) CDC Group has made its first direct investment in Nepal via a $15 million commitment to NMB Bank.
Q&A: Bain Capital's Jonathan Lavine
Asia’s private credit markets are underdeveloped given the size of the regional economy. Jonathan Lavine, co-managing partner of Bain Capital and CIO of Bain Capital Credit, assesses the growth potential
Bain-Piramal fund invests $156m in Indian chemicals company
India Resurgence Fund (India RF), a vehicle established by Bain Capital Credit and Piramal Enterprises to invest in distressed assets, has committed $156 million to Archean Group’s marine chemicals business.
Australia's Blue Sky agrees $36m debt deal with Oaktree
Special situations investor Oaktree Capital has extended a loan package worth up to A$50 million ($36 million) to Australia-listed Blue Sky Alternative Investments following a string of regulatory breaches.
Growth mezzanine: Paying their dues
Growth capital situations can provide a healthy source of deals for established mezzanine investors, but high barriers to entry will pose challenges for newcomers
Actis to launch $220m India NBFC
Actis Capital has launched an Indian non-banking finance company (NBFC) in which it will invest up to $220 million over the next five years.
Lone Star, India’s Rattan to launch NBFC
Lone Star Funds and the RattanIndia Group will jointly invest INR26 billion ($400 million) to launch a new non-banking financial company (NBFC).
IFC proposes $55m investment in Bangladesh's Pran
The International Finance Corporation (IFC), the investment arm of the World Bank, is considering a $55 million commitment to Bangladesh-based food and beverage producer Pran Group.
IFC invests $40m in Indonesian SME ecosystem
The International Finance Corporation (IFC) has invested $40 million in Indonesian lender Radana Bhaskara Finance as part of a support program for local small and medium-sized enterprises (SMEs).
IFC proposes $74m investment in India's Cholamandalam
The International Finance Corporation (IFC), the investment arm of the World Bank, has proposed a INR4.8 billion ($74 million) investment in Indian non-banking finance company (NBFC) Cholamandalam Investment & Finance.
