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.
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
Ontario Municipal Employees Retirement System (OMERS) recently backed a spinout of Olympus Capital Asia’s credit team as Orion Capital Asia. Ani Deshmukh, a director with the Canadian pension fund, explains its regional strategy
GPs are placing greater emphasis on Asia private debt strategies to capture deals that don’t work as private equity. Much can be achieved by pooling ideas and resources, but collaboration isn’t as straightforward as it seems
India’s Trifecta Capital has closed its second venture debt fund with $140 million in commitments. The firm raised about $68.4 million for its debut vehicle in 2017.
Olympus Capital Credit has rebranded as Orion Capital Asia, with OMERS replacing Olympus as the firm’s equity partner. The strategy is unchanged, with COVID-19 helping to drive deal flow
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.
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 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.
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 has emphasized the need for patience and mandate flexibility in private credit, industry participants told the AVCJ Forum.
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.
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
9 Basil, a Thailand-based GP launched last year by local multi-family office Blueprint Forest, has raised $120 million for its debut fund.
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.
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.
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.
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.
Singapore-based infrastructure investor Clifford Capital has acquired a 50% stake in local private credit and mezzanine player Pierfront Capital for an undisclosed sum.
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 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 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.
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’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?