AVCJ looks at how its 2020 predictions turned out and identifies some key themes for the year ahead
9 Basil's predictions of distress in Southeast Asia have been realized faster than anticipated due to COVID-19. The Thai manager is now gauging the likely impact of social unrest
Distress-focused investors warned that persistent economic uncertainty is making it difficult to act on opportunities even as companies run into trouble because of the coronavirus pandemic.
WorldStrides, a US-based provider of study-abroad programs for high school and university students owned by Eurazeo and Chinese private equity firm Primavera, has filed for bankruptcy protection.
Bain Capital has entered into an agreement to acquire and recapitalize beleaguered airline Virgin Australia Holdings (VAH).
Many companies are rolling liabilities forward, supported by accommodating government policy intended to maximize liquidity. It can't go on forever, but distress and private debt investors must be careful where they tread
Bain Capital is in the second round of bidding for Virgin Australia Holdings (VAH) and has pledged to give the beleaguered airline “a sustainable, long-term future.”
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?
Queensland Investment Corporation (QIC) has been asked by the state government, its ultimate owner, to explore a bail-out for beleaguered airline Virgin Australia Holdings (VAH).
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
Hong Kong-based special situations investor ADM Capital has raised $630 million for a credit fund that will target mid-sized companies in Asia.
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.
Cerberus Capital Management has agreed to acquire the operating assets of bankrupt Australian equipment finance specialist Axsesstoday.
Kotak Mahindra Group hopes his longstanding experience in financial services will serve as a differentiator as it looks for deals in India's increasingly popular distressed space
SSG Capital Partners expects to source distressed assets from a wider variety of sellers – including other alternative investment firms and investment banks – during the life of its fifth Asia fund, which is on track to exceed its target of $1.5 billion.
The Kotak Special Situations Fund, which is sponsored by an alternative assets arm of Kotak Mahindra Group focused on Indian non-performing loans (NPLs), has reached a final close of $1 billion.
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 Resurgence Fund (India RF), a joint venture between Bain Capital Credit and Piramal Enterprises to invest in distressed assets in India, has agreed to invest up to INR9.9 billion ($144 million) in Indian pharmaceutical developer Panacea Biotec.
GPs expect a wave of non-performing loan sales in China as the slowing economy leaves banks with more bad debts to resolve, but could the distress investment opportunity be even broader than they envisage?
Abu Dhabi Investment Authority (ADIA) will make an anchor commitment of $500 million to an India special situations fund launched in conjunction with Kotak Private Equity.
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.
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.
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