Venture debt providers are confident that the asset class is set for growth in Asia, though momentum is slow in most markets. Lenders must adapt their strategies to meet local needs if they are to be successful
US specialty retailer Brookstone, which was acquired in 2014 by Sailing Capital and Chinese retail conglomerate Sanpower Group, has filed for bankruptcy again and will close its 102 retail stores located in shopping malls.
Growth capital situations can provide a healthy source of deals for established mezzanine investors, but high barriers to entry will pose challenges for newcomers
Institutional investors are preparing for a downturn in Asia – and emphasizing the importance of disciplined deployment – as they see worrying “pro-cycle market behavior” in the private markets space globally.
In recent years Intermediate Capital Group has branched out beyond traditional mezzanine to embrace deal structures that have no sponsor. It sees ample opportunities in Asia’s developed markets
Alteria Capital, an Indian venture debt firm established by InnoVen Capital co-founders Vinod Murali and Ajay Hattangdi, has reached a first close of INR3.6 billion ($54.6 million) for its debut fund.
Buyout firms are responding to higher valuations by doing more to ensure they can bring about transformation in portfolio companies. They are also being more careful in terms of sector selection and leverage
Global A&T Electronics, a Singapore-headquartered provider of assembly and test services for semiconductor chips that is controlled by Affinity Equity Partners and TPG Capital, has filed for bankruptcy in the US.
China Renaissance has added dedicated healthcare and mezzanine debt strategies to its existing growth-stage private equity offering as part of efforts to more than treble its assets under management (AUM) over the next three years.
North Asia-focused buyout player MBK Partners has hired Stephen Le, formerly of Deutsche Bank, to co-head a newly-launched fund that will make credit and special situations investments.
Yatra Online, an Indian travel services provider listed on NASDAQ, has raised INR1 billion ($15.4 million) in debt funding from InnoVen Capital.
Ajay Hattangdi (pictured) and Vinod Murali, co-founders of venture debt firm InnoVen Capital, have established their own India venture debt business and are looking to raise a $155 million fund, including a $30 million greenshoe option.
Chinese PE-backed smart phone maker Xiaomi has raised a new $1 billion loan to support global expansion and the build-out of its offline retail network.
KKR has selected Go Yamashita, a former managing director with The Blackstone Group, to head the KKR Capital Markets (KCM) team in Japan.
Indian IT services provider Mphasis has issued $500 million in bonds, the proceeds of which will be used to recapitalize its debt and make a dividend payment to majority owners The Blackstone Group and GIC Private.
Barry Lau, managing partner and CIO at Adamas Asset Management, discusses private debt opportunities in China
Pricoa Capital Group, a private debt investment group under PGIM, Prudential Financial’s global asset management business, has established a team in Sydney to target middle market opportunities in Australia and New Zealand.
India-based impact investment firm Aavishkaar-Intellecap Group has raised $25 million from Triodos Investment Management and the Shell Foundation.
South Korea’s Public Officials Benefit Association (POBA) has allocated $120 million to US mezzanine funds managed by Crescent Capital Group, Falcon Investment Advisors and GoldPoint Partners.
InnoVen Capital has provided more than $20 million in venture debt across 15 deals for new and existing portfolio companies in India in the second quarter of the 2017 financial year.
China’s outbound M&A market has taken off in recent years, but many are skeptical that purchasing companies will be able to handle the financial and operational burdens they have taken on
UK development finance institution CDC Group has invested INR3.3 billion ($49.7 million) in Indian private lender RBL Bank.
Having gained traction with its venture debt proposition in India, Innoven Capital is now following those same portfolio companies as they expand into Southeast Asia
Indian venture debt firm InnoVen Capital has committed a total of $6 million in structured debt financing to cloud-based software provider Capillary Technologies and educational technology start-up Simplilearn.