Credit/Special Situations
Fund focus: 9 Basil targets Thai distress
9 Basil's predictions of distress in Southeast Asia have been realized faster than anticipated due to COVID-19. The Thai manager is now gauging the likely impact of social unrest
Thailand’s 9 Basil raises $120m for debut fund
9 Basil, a Thailand-based GP launched last year by local multi-family office Blueprint Forest, has raised $120 million for its debut fund.
OTPP puts $350m into Edelweiss' India private debt business
India’s Edelweiss Group has brought a strategic investor into another of its business lines, with Ontario Teachers’ Pension Plan (OTPP) committing $350 million to the firm’s credit unit.
MUFG launches Singapore venture debt business
Japan’s MUFG Bank has set up a Singapore-based venture debt business alongside Israeli financial technology start-up Liquidity Capital. Its debut fund has been set up with an initial $80 million.
Australia's OneVentures closes credit fund at $57m
OneVentures has reached a final close of A$80 million ($57 million) on a venture debt fund said to be the first and largest vehicle of its kind in Australia.
Singapore's Indies raises $100m for third PE, credit fund
Indies Capital, a Singapore-based GP focused on Indonesia, has reached a first close of $100 million for its third flagship private equity and credit fund.
Clifford Capital takes 50% stake in Singapore's Pierfront
Singapore-based infrastructure investor Clifford Capital has acquired a 50% stake in local private credit and mezzanine player Pierfront Capital for an undisclosed sum.
Coronavirus dislocation funds: Runway watchers
Southeast Asia has emerged as a hotspot for VC funds targeting COVID-19 dislocation. They are flirting with strategies requiring private equity and short-term value investing skills
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 VCs commit $204m in COVID-19 support
Singapore government-connected VC investors Seeds Capital and EDBI have committed S$285 million ($204 million) to support local start-ups facing challenges related to COVID-19.
Asia distress: Band-aids for corpses
Many companies are rolling liabilities forward, supported by accommodating government policy intended to maximize liquidity. It can't go on forever, but distress and private debt investors must be careful where they tread
China mezzanine: Not the norm
China’s local currency mezzanine capital space is underpenetrated, underpopulated and different to comparable strategies elsewhere. A handful of domestic GPs have begun to get traction. Will others follow?
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.
ADV hires ex-KKR executive to head up Southeast Asia
ADV Partners, a mid-market pan-Asian private equity firm, has recruited Rahul Bhargava as a managing director to lead coverage of Southeast Asia.
Malaysia's COPE launches COVID-19 support program
Malaysia’s COPE Private Equity has set up a MYR180 million ($41.5 million) investment program dedicated to supporting companies struggling with business stresses related to COVID-19.
Zerobridge highlights Asia distress opportunities
Distress and special situations investors will see plenty of opportunities in Asia’s middle market as companies struggling with coronavirus-driven liquidity issues consider restructuring options, according to debt advisory firm Zerobridge Partners.
TNB Aura launches COVID-19 special situations fund
Singapore VC firm TNB Aura has launched an open-ended special situations fund that will support early-stage start-ups under financial pressure related to COVID-19.
China's CBC raises healthcare credit fund
CBC Group, a China-focused healthcare investor, has raised a $300 million credit fund that will issue financing to companies backed by royalties, revenue interests, and other cash flows.
CDPQ, Piramal commit $300m to India private credit
Caisse de depot et placement du Quebec (CDPQ) and an asset management division of Piramal Enterprises have jointly committed $300 million to an Indian private credit platform.
Private credit: Untapped market
Recent industry feedback suggests middle-market companies across Asia will increasingly look to private credit to support future growth. Europe may offer clues as to how the expected uptake will unfold
Ares takes controlling stake in Asia's SSG
Ares Management has agreed to buy a controlling stake in SSG Capital, an Asia-focused credit and special situations fund manager with approximately $6.2 billion in assets under management, including $3.9 billion in dry powder.
Ex-GE Capital executives target $300m for Asia credit fund
Sammasan Capital, a credit investment firm established by two former executives with GE Capital in Asia, is looking to raise up to $300 million for its debut fund.
KKR pumps $150m into its India credit business
KKR has committed an additional $150 million in funding to its India-based non-banking financial company (NBFC), citing strong growth prospects for credit investment in the country.
