Restructuring
Indian NPAs: Solvency strikes
With a series of highly publicized bankruptcy proceedings, government efforts to rein in India’s non-performing assets may finally be paying off. Investors expect a wave of turnaround opportunities
VIDEO: Shoreline Capital's Tony Liu
Tony Liu, COO of Shoreline Capital, discusses investment opportunities in China's non-performing loan (NPL) space.
GSR invests $236m in China environmental technology player
GSR Capital, a Chinese private equity firm with a strong interest in clean energy technology, has agreed to invest RMB1.5 billion ($236 million) in overleveraged domestic environmental project developer Shenwu Technology Group.
PAG backs Chinese-led acquisition of Japan's Takata
PAG Asia Capital has supported Chinese-owned auto components manufacturer Key Safety Systems (KSS) in its $1.59 billion acquisition of assets held by Takata Corporation, a Japanese company that filed for bankruptcy following a recall of faulty vehicle...
Portfolio: Allegro Funds and Carpet Court
Carpet Court’s attractive growth plan was held back by its structural weaknesses. Under the ownership of Allegro Funds, the company has new focus as the leader in New Zealand’s fragmented flooring industry
Australia distress: The luxury of time
Two pieces of legislation – one enacted and the other pending – are expected to facilitate corporate restructuring in Australia. It remains to be seen how turnaround investors take advantage of this
Chinese banks to launch debt-for-equity swap funds
Chinese banks will be allowed to raise capital from third-party investors to participate in debt-for-equity swap programs as regulators look for additional ways to alleviate the country’s corporate debt problem.
PE-owned Global A&T Electronics files for bankruptcy
Global A&T Electronics, a Singapore-headquartered provider of assembly and test services for semiconductor chips that is controlled by Affinity Equity Partners and TPG Capital, has filed for bankruptcy in the US.
AVCJ at 30: Part Two - The Asian Financial Crisis
Weijian Shan of PAG Asia Capital, Piau-Voon Wang, Dan Carroll of Brooklands Capital Strategies, and Michael Kim of MBK Partners on the impact of the Asian financial crisis
Australia's Allegro reaches first close on Fund III
Allegro Funds has reached a first close of more than A$200 million ($156 million) on its third fund. The Australian GP is no longer marketing to new investors and a final close near the hard cap of around A$300 million is expected before the end of the...
India's Snapdeal calls off merger with Flipkart
Indian online marketplace Snapdeal has called off a planned merger with rival Flipkart and will pursue a restructuring plan to allow it to survive as an independent entity. Both companies have substantial PE and VC backing.
Creditors take control of PE-owned Gerard Lighting
A creditor consortium led by Investec and Bain Capital Credit (BCC) has assumed full control of Gerard Lighting, an Australian light fittings distributor owned by CHAMP Private Equity.
Bain to buy $200m Chinese NPL portfolio
Bain Capital Credit (BCC) has agreed to buy a portfolio of Chinese non-performing loans (NPLs) worth approximately $200 million, reflecting the growing interest from foreign investors in the country’s distressed debt space.
Vietnam SOEs: Shifting ground
Vietnam’s state-owned enterprise (SOE) privatization initiative continues to produce investment opportunities, but private equity firms must be prepared for a hard sell when negotiating
Endeavour United to buy Pizza Hut Japan
Endeavour United, a GP established by the team behind turnaround investor Phoenix Capital, has agreed to buy Pizza Hut Japan and Phoenix Foods from Mitsubishi Corporation-controlled KFC Holdings Japan.
Gateway invests in Singapore's Healthway Medical
Singapore-based private equity firm Gateway Partners has agreed to invest S$70 million ($50.2 million) in distressed local hospital operator Healthway Medical.
China NPL securitization: Pass the parcel
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
Investors need boots on the ground to target China distress - AVCJ Forum
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.
China NPLs: Great expectations
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?
Australia mining: Desert stirrings
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
VIDEO: Xiaolin Zhang, Shoreline Capital
Xiaolin Zhang, co-founder and managing partner of Shoreline Capital, discusses non-performing loan (NPL) investment opportunities in China
VIDEO: Ilfryn Carstairs, Värde Partners
Ilfryn Carstairs, co-CIO of Värde Partners, discusses distress and structured credit opportunities globally and in Asia
AVCJ Awards 2016: Deal of the Year - Large Cap: Golden Apple Education
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
Deal focus: Allegro brings driller back from the brink
Allegro carves out JSW Australia from bankrupt Hughes Drilling with a view to capitalizing on the country's gradual mining rebound
