Credit/Special Situations
Bain raises $2b for Asia special situations fund
Bain Capital has closed its second Asia special situations fund with more than USD 2bn in commitments. The firm described it as the largest vehicle in the region dedicated to the likes of direct lending, mezzanine debt, and distressed asset opportunities.
Blackstone boosts Asia credit coverage
The Blackstone Group has recruited Mark Glengarry, formerly of Anchorage Capital Group, as head of Asia Pacific origination for its credit business.
KKR raises $1.1b for debut Asia credit fund
KKR has closed its debut Asia credit fund with USD 1.1bn in commitments, completing the set of vehicles dedicated to the region across its main strategies.
Kotak targets $1.5b for second India special situations fund
Kotak Investment Advisors is looking to raise USD 1.5bn for its second India-focused special opportunities credit fund, up from about USD 1bn in the previous vintage.
Coller secures $1.4b for global credit secondaries fund
Coller Capital has raised approximately USD 1.4bn for its debut global private credit secondaries fund, said to be the largest pool of capital dedicated to the strategy.
Australia's Allegro hits overall target with Fund IV first close
Allegro Funds, an Australia-based turnaround specialist, has reached a first close of A$600 million ($449 million) on its fourth fund, hitting the overall target for the vehicle.
Apollo bulks up credit team as part of Asia expansion
Apollo Global Management has recruited three professionals from Commonwealth Bank of Australia (CBA) to join its Asia Pacific credit business.
Japan's Keystone targets $440m for Fund V
Tokyo-based Keystone Partners is looking to raise around JPY50 billion ($440 million) for its fifth Japan-focused fund, which will make a combination of growth and turnaround investments.
India's Axis Bank seeks $468m for distress buyout fund
India’s Axis Bank has launched a distress buyout fund targeting INR35 billion ($468 million) via its asset management business.
Australia's Allegro seeks $449m for Fund IV
Australia-based turnaround specialist Allegro Funds is targeting A$600 million ($449 million) for its fourth fund, more than twice what it raised in the previous vintage.
Alteria closes India venture debt fund at $241m
Alteria Capital has closed its second India venture debt fund at INR18 billion ($241 million), beating a target of INR15 billion. All the money was raised by video call.
Australia PE: Brave new world
As Australia contemplates opening its tightly controlled borders and finding a way to live with COVID-19, private equity probes an opportunity set in transition yet surprisingly stable
Korean LPs adapt to the new normal – AVCJ Forum
South Korean institutional investors are keen to deploy capital in alternatives, their sentiment towards the asset class boosted by a relatively robust recovery from the pandemic and the stabilization of returns, the AVCJ Korea Forum heard.
CLSA raises $500m for second Asia private debt fund
CLSA Capital Partners has closed its second Asia-focused private debt fund – and a parallel co-investment vehicle – with $500 million in commitments.
India's Stride Ventures hits $74m first close on second fund
Indian venture debt investor Stride Ventures has achieved a first close of INR5.5 billion ($74 million) on its second fund. The overall target is INR10 billion.
Coller spins out credit fund interests from Ping An subsidiary
A Coller Capital-led consortium has acquired interests in four global credit funds – worth a combined $680 million – from China Ping An Insurance’s overseas investment platform.
Warburg Pincus targets China distressed real estate
Warburg Pincus is entering the distressed real estate space in China through a $600 million partnership with Wensheng, a local special situations manager.
Stride seeks $137m for second India venture debt fund
India venture debt provider Stride Ventures has launched its second fund with a target of INR10 billion ($137.5 million), with a greenshoe option that could see the corpus rise to INR18.7 billion.
China distress specialist DCL targets $466m fundraise
DCL Investments, one of China’s first private equity firms to focus on distressed assets, is looking to raise RMB3 billion ($466 million) for its latest renminbi-denominated fund.
LG Chem to anchor IMM's Korea battery fund
IMM Private Equity’s recently established credit unit has launched a KRW400 billion ($353 million) Korea-focused fund that will invest in components for electric vehicle (EV) batteries and other environmentally friendly industrial materials.
Asia credit fundraising: Middle muddle
Various structural tailwinds are driving the development of Asia’s middle-market private credit space. This doesn’t necessarily make it any easier to raise funds for the strategy
Singapore's Genesis closes $80m venture debt fund
Singapore’s Genesis Alternative Ventures has closed its debut venture debt fund, which will target Southeast Asia, with $80 million in commitments.
Alteria hits first close on second India venture debt fund
India’s Alteria Capital has achieved a first close of INR13.2 billion ($177 million) on its second venture debt fund. The target is INR15 billion.
Ares & SSG: Scale proposition
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
