Credit/Special Situations
Allegro acquires Pizza Hut Australia
Allegro Funds has acquired Pizza Hut Australia from US owner Yum Brands alongside a local management team comprising former McDonald’s executives.
Piramal, Bain form distressed asset partnership
Indian conglomerate Piramal Enterprises has partnered with Bain Capital Credit to invest in distressed assets and restructuring situations in India.
Apollo, ICICI to form India distressed asset JV
Apollo Global Management and ICICI Bank have agreed to launch a joint venture for investments in distressed assets in India.
Brookfield, State Bank of India plan $1b distress fund
Canada’s Brookfield Asset Management has signed a preliminary agreement with the State Bank of India (SBI) to invest about INR70 billion ($1 billion) in stressed assets in India.
KKR’s Kravis sees Asia promise amid global macro volatility
Henry Kravis, co-founder of KKR, emphasized the importance of Asia’s rising middle class and the diversification of his firm’s investment approach as continued volatility globally is likely to deliver both uncertainty and opportunity.
Farallon raises $1.1b for Asia, Latin America special situations fund
Farallon Capital Management has closed its third special situations fund focused on Asia and Latin America at $1.1 billion.
Hamilton Lane closes $210m global credit fund
Hamilton Lane has raised $210 million for a credit-focused strategic opportunities fund, exceeding the initial target of $150 million.
IFC, ADM Capital launch Asia lending platform
The International Finance Corporation (IFC), the investment arm of the World Bank, has teamed up with Hong Kong-based ADM Capital to launch a lending platform to support small and medium-sized enterprises (SMEs) in Asia.
Apollo, IFC form $1b emerging markets distress partnership
The International Finance Corporation (IFC), the investment arm of the World Bank, has formed a $1 billion partnership with Apollo Global Management to invest in distressed assets in emerging markets.
India distress: Workout window
India’s distressed asset sector is seeing a surge in investor interest as regulators indicate support for a tougher approach by creditors. PE investors looking to enter this space must develop sustainable strategies
SSG buys 40% stake in India's Future Supply Chain
Special situations investor SSG Capital Management Group will pay up to INR5.8 billion ($87 million) for a 40% stake in Future Supply Chain (FSC), a supply chain and logistics subsidiary of India's Future Retail.
Bain rebrands Sankaty and Brookside, shuffles leadership
Bain Capital has rebranded its credit investment and public equities divisions – Sankaty Advisors and Brookside Capital – under the Bain Capital name and announced changes to its senior leadership.
KKR closes $3.3b global special situations fund
KKR has reached a final close of $3.3 billion for its second global KKR Special Situations Fund (KSSF), which will target investments in distressed or event-driven situations.
KKR wins approval to back India bad debt manager
India's Foreign Investment Promotion Board (FIPB) has approved KKR's request to buy a stake in distressed asset manager International Asset Reconstruction Company (IARC).
TPG targets India distress
TPG Capital is planning to invest up to $3 billion in India-based distressed assets over the next three years, according to Jim Coulter, the firm's co-founder and co-CEO.
CPPIB, Kotak form $525m India distressed asset vehicle
Canada Pension Plan Investment Board (CPPIB) will partner with Kotak Mahindra Group to invest up to $525 million in distressed assets in India.
JC Flowers, Ambit form India stressed asset JV
US-based private equity firm J.C. Flowers will form a joint venture with India's Ambit Holdings to buy stressed assets in India.
Ex-Advent executive Avnish Mehra joins Everstone
India-focused GP Everstone Capital has hired Avnish Mehra, former India country director at Advent International, as a managing director for its private equity business.
Oaktree opens Australia office
Oaktree Capital Group has opened its first office in Australia, with Byron Beath, previously of Macquarie Bank, appointed to lead investment activities in the region.
Corstone closes $124m Korea fund
US-based private equity firm Corstone Capital has closed a South Korea-focused fund at KRW150 billion ($124 million).
KKR forms China distressed investment partnership
KKR has formed a partnership with China Orient Asset Management and China Orient Summit Capital (COS Capital) to make credit and distressed opportunities in the country, with real estate likely to be a key area of focus.
Abax raises $235m for Asia special situations fund
Abax Global Capital has raised $235 million for its second Asia special situations fund, which has a strong focus on China.
Q&A: Sankaty Advisors' Jonathan Lavine
Jonathan Lavine, managing partner at Sankaty Advisors, explains the firm’s strategy in Asia and globally. The following is taken from an interview for AVCJ TV conducted in the summer of 2015
Sankaty to buy GE's Australia, NZ commercial lending portfolio
Sankaty Advisors, the global credit affiliate of Bain Capital, has agreed to buy GE Capital’s commercial lending and leasing portfolios in Australia and New Zealand.