Credit/Special Situations
CLSA raises $226m for debut Asia private debt fund
CLSA Capital Partners has closed its first private debt fund at $226 million, targeting small to medium-sized enterprises (SME) deemed market leaders in Asia Pacific.
Fund focus: DCL targets China's unremitting debtors
With $455 million in commitments for its latest renminbi fund, DCL Investments hopes to make its on-the-ground capabilities count in resolving China’s non-performing loans problem
MBK credit fund to join PE fund on CAR investor roster
MBK Partners has agreed to subscribe to $175 million in convertible bonds issued by China Auto Rental (CAR). It follows a large commitment and a take-private offer by MBK last month.
AIIB backs ADM's renewable energy debt fund
Asian Infrastructure Investment Bank (AIIB) has committed $100 million to an Asia-focused debt fund dedicated to renewable energy managed by Hong Kong’s ADM Capital.
COVID-19 credit strategies must be flexible – AVCJ Forum
COVID-19 has emphasized the need for patience and mandate flexibility in private credit, industry participants told the AVCJ Forum.
China distressed asset manager DCL raises $455m
DCL Investments, one of China’s first private equity firms to focus on distressed assets, has raised RMB3 billion ($455 million) for its latest renminbi-denominated vehicle.
Fund focus: 9 Basil targets Thai distress
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
Thailand’s 9 Basil raises $120m for debut fund
9 Basil, a Thailand-based GP launched last year by local multi-family office Blueprint Forest, has raised $120 million for its debut fund.
OTPP puts $350m into Edelweiss' India private debt business
India’s Edelweiss Group has brought a strategic investor into another of its business lines, with Ontario Teachers’ Pension Plan (OTPP) committing $350 million to the firm’s credit unit.
MUFG launches Singapore venture debt business
Japan’s MUFG Bank has set up a Singapore-based venture debt business alongside Israeli financial technology start-up Liquidity Capital. Its debut fund has been set up with an initial $80 million.
Australia's OneVentures closes credit fund at $57m
OneVentures has reached a final close of A$80 million ($57 million) on a venture debt fund said to be the first and largest vehicle of its kind in Australia.
Singapore's Indies raises $100m for third PE, credit fund
Indies Capital, a Singapore-based GP focused on Indonesia, has reached a first close of $100 million for its third flagship private equity and credit fund.
Clifford Capital takes 50% stake in Singapore's Pierfront
Singapore-based infrastructure investor Clifford Capital has acquired a 50% stake in local private credit and mezzanine player Pierfront Capital for an undisclosed sum.
Coronavirus dislocation funds: Runway watchers
Southeast Asia has emerged as a hotspot for VC funds targeting COVID-19 dislocation. They are flirting with strategies requiring private equity and short-term value investing skills
Apollo, ICICI Venture end India special situations partnership
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.
Singapore VCs commit $204m in COVID-19 support
Singapore government-connected VC investors Seeds Capital and EDBI have committed S$285 million ($204 million) to support local start-ups facing challenges related to COVID-19.
Asia distress: Band-aids for corpses
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
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
ADM raises $630m for Asia credit fund
Hong Kong-based special situations investor ADM Capital has raised $630 million for a credit fund that will target mid-sized companies in Asia.
ADV hires ex-KKR executive to head up Southeast Asia
ADV Partners, a mid-market pan-Asian private equity firm, has recruited Rahul Bhargava as a managing director to lead coverage of Southeast Asia.
Malaysia's COPE launches COVID-19 support program
Malaysia’s COPE Private Equity has set up a MYR180 million ($41.5 million) investment program dedicated to supporting companies struggling with business stresses related to COVID-19.
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.
TNB Aura launches COVID-19 special situations fund
Singapore VC firm TNB Aura has launched an open-ended special situations fund that will support early-stage start-ups under financial pressure related to COVID-19.
