Special Situations
Asia distress: Landslides on hold?
Investors are witnessing an uptick in turnaround opportunities based on delayed pandemic effects and a poor macro outlook. The trend remains anecdotal, but some markets could see a surge
Kotak reaches first close on second India special situations fund
Kotak Investment Advisors has reached a first close of USD 1.25bn on its second India-focused special situations fund against an overall target of USD 1.6bn.
Kotak fund invests $129m in India's Biocon
Kotak Mahindra Advisors (KIA), the alternative assets arm of Kotak Mahindra Group, has committed INR 10.7bn (USD 129.4m) to Indian pharmaceuticals manufacturer Biocon to support the latter’s acquisition of a biosimilar business from global healthcare...
Deal focus: Elevation makes Korea healthcare debut
Adverse fundraising conditions didn’t deter deal-by-deal player Elevation Private Equity from investing in Korea healthcare turnaround, and by extension, aligning with a key domestic partner
Bain raises $2b for Asia special situations fund
Bain Capital has closed its second Asia special situations fund with more than USD 2bn in commitments. The firm described it as the largest vehicle in the region dedicated to the likes of direct lending, mezzanine debt, and distressed asset opportunities.
China distress specialist DCL targets $466m fundraise
DCL Investments, one of China’s first private equity firms to focus on distressed assets, is looking to raise RMB3 billion ($466 million) for its latest renminbi-denominated fund.
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's Vulpes launches COVID-19 opportunities fund
Singapore-based Vulpes Investment Management has launched a special opportunities fund of undisclosed size targeting VC-backed companies struggling with the effects of COVID-19.
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.
ADP sweeps in to claim GMR Airports
Groupe Aéroports de Paris (ADP), a French airport operator, will acquire a 49% stake in India’s GMR Airports (GAL) for INR107.8 billion ($1.49 billion), outbidding a PE-backed consortium.
Bain expands India credit presence
Bain Capital is setting up a team to invest in credit and special situations opportunities in India, and has hired a former executive at Aion Capital to serve as its head.
SSG pursues recapitalization of Australia’s Retail Food Group
Australia’s Retail Food Group (RFG) has received a A$160 million ($111 million) recapitalization proposal from Asia-focused special situations investor SSG Capital Partners.
Tata, GIC join $1.1b investment in India's GMR Airports
Tata Group, GIC Private, and special situations investor SSG Capital have formed a consortium to invest INR80 billion ($1.1 billion) in India’s GMR Airports (GAL). It will facilitate a number of private equity exits.
Brookfield to buy majority stake in Oaktree
Brookfield Asset Management has agreed to acquire a 62% stake in Oaktree Capital in a deal worth about $4.7 billion.
Australia's Blue Sky agrees $36m debt deal with Oaktree
Special situations investor Oaktree Capital has extended a loan package worth up to A$50 million ($36 million) to Australia-listed Blue Sky Alternative Investments following a string of regulatory breaches.
Tanarra raises $217m for Asia Pacific credit fund
Australia-based Tanarra Credit Partners has raised A$285 million ($217 million) for a fund that will invest in senior and mezzanine loans across the Asia Pacific region. It is targeting a final close of up to A$500 million during the first half of 2018.
VIDEO: Xiaolin Zhang, Shoreline Capital
Xiaolin Zhang, co-founder and managing partner of Shoreline Capital, discusses non-performing loan (NPL) investment opportunities in China
Deal focus: Allegro to revamp Pizza Hut’s recipe
Allegro Funds plans new store expansion for Pizza Hut Australia, but first the GP and its management team partners will make operational improvements to the existing business
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.