Distress
Bain reaches $557m first close on Asia special situations fund
Bain Capital Credit has reached a first close of $557 million on its Asia-focused special situations fund.
ShoreVest targets $750m for China distress fund
ShoreVest Capital Partners, a China-focused distress and special situations investor created by former executives from Shoreline Capital, is looking to raise $750 million for its debut fund.
Bain to buy $200m Chinese NPL portfolio
Bain Capital Credit (BCC) has agreed to buy a portfolio of Chinese non-performing loans (NPLs) worth approximately $200 million, reflecting the growing interest from foreign investors in the country’s distressed debt space.
Korea to create $7b restructuring fund
South Korea has announced plans for a KRW8 trillion ($7 billion) fund – of which half will come from private sector feeder vehicles – as part of government efforts to initiate a more market-based approach to corporate restructuring.
China distress investor DCL launches debut US dollar fund
DCL Investments, a China-focused distressed debt and special situations manager set up by former executives at CDH Investments and Shoreline Capital, is targeting around $300 million for its first US dollar-denominated fund.
China NPL securitization: Pass the parcel
China wants to use securitization and debt-for-equity swaps to address its non-performing loan problem. Even without structural concerns and political agendas, they are unlikely to supplant portfolio sales
Investors need boots on the ground to target China distress - AVCJ Forum
The credit and distress investment opportunity is significant – and expected to grow – but an on-the-ground presence is seen as essential to accessing it, industry participants told the AVCJ China Forum.
China NPLs: Great expectations
Foreign private equity firms are positioning themselves to address an anticipated surge in non-performing loan sales to third-party investors. Will the reality match the hype?
Bain targets $750m for Asia special situations fund
Bain Capital Credit is targeting $750 million for an Asia-focused special situations fund to pursue direct lending, mezzanine debt and distressed asset opportunities across the region.
VIDEO: Xiaolin Zhang, Shoreline Capital
Xiaolin Zhang, co-founder and managing partner of Shoreline Capital, discusses non-performing loan (NPL) investment opportunities in China
VIDEO: Ilfryn Carstairs, Värde Partners
Ilfryn Carstairs, co-CIO of Värde Partners, discusses distress and structured credit opportunities globally and in Asia
India infrastructure: Finding on-ramps
As capital patterns in the Indian infrastructure space evolve, the opportunity sets for private equity are being reshaped. Precisely calculated entry strategies will be the key to success
Q&A: Shoreline Capital's Xiaolin Zhang
Xiaolin Zhang, co-founder and managing partner at China-focused distress specialist Shoreline Capital, discusses the NPL opportunity and what private equity firms must do to address it
STIC raises $530m for Korea special situations fund
STIC Investments has raised $530 million for a special situations fund that will target restructuring opportunities involving South Korean conglomerates.
Shoreline spin-out DCL raises $500m China distress fund
DCL Investments, a spin-out from China-focused distressed debt and special situations investor Shoreline Capital, has closed its debut fund with more than RMB3.7 billion ($500 million) in commitments.
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.
Korea's Dongbu agrees $174m sale to Keystone
Keystone Private Equity has agreed to acquire distressed Korean construction company Dongbu Corporation for KRW206 billion ($174 million).
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.
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.
Fortress raises $1.1b for third Japan special situations fund
Fortress Investment Group has closed its third Japan-focused special situations fund at the hard cap of $1.1 billion. Ten deals have already been completed with more than JPY17 billion ($140 million) deployed.