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’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
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 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 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.
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 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.
Canada Pension Plan Investment Board (CPPIB) will partner with Kotak Mahindra Group to invest up to $525 million in distressed assets in India.
US-based private equity firm J.C. Flowers will form a joint venture with India's Ambit Holdings to buy stressed assets in India.
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 Capital Group has opened its first office in Australia, with Byron Beath, previously of Macquarie Bank, appointed to lead investment activities in the region.
US-based private equity firm Corstone Capital has closed a South Korea-focused fund at KRW150 billion ($124 million).
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 Global Capital has raised $235 million for its second Asia special situations fund, which has a strong focus on China.
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 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 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.
Oaktree Capital Management has been following a mantra of “move forward, but with caution,” since 2011, and Howard Marks, the firm’s chairman, told AVCJ earlier this year that he has seen no reason to change this outlook.
China’s shadow lenders are an often-misunderstood part of the private debt sector. Investors say these unregulated institutions are not necessarily a threat, but they are hard to account for
ADV Partners has reached a final close of $545 million on its debut pan-regional fund, exceeding the $500 million target. Approximately 30% of the corpus has already been deployed.
Allegro Funds has exited its majority stake in Australia-based industrial services provider TSC Group to multinational energy player Engie.
Oaktree Capital Management will contribute to a $175 million restructuring package for Australian surfwear brand Quiksilver, which has voluntarily taken its US business into bankruptcy.
China’s slowing growth has created a wave of corporate defaults, and these bad debts should be put up for sale. Not all foreign investors are ready to jump in, though, conscious of the difficulties in extracting value
KKR has agreed to invest $150 million in JBF Industries, an India-based polyester products manufacturer, with a portion of the capital going to the company’s international subsidiaries.