INSUBCONTINENT EXCLUSIVE:
Canadian pension fund manager, has made $600 million available to Edelweiss Group for investment in local distressed assets, according to
Bansal, an adviser for Edelweiss Asset Reconstruction Co
Hong Kong-based SSG Capital Management Ltd
sees more opportunities in such assets, and foreign funds including Oaktree Capital Group LLC and Varde Partners are also keen to
borrowing spree following the global financial crisis and an economic slowdown after that
High potential profits on those deals attract funds: SC Lowy Financial HK Ltd
at Baker McKenzie Wong Leow in Singapore
Its outlook on the nation remains positive, he said.
Sales of distressed assets from banks to third-party investors jumped in the year ended
March 31, according to Jamie Tadelis, co-head of sales at SC Lowy Financial in Hong Kong
As a foreign financial firm, it is easier to do business in India than in China, where local partnerships are usually required, Lee
said.
The introduction of the bankruptcy law has brought the benefit of debt resolutions with deadlines for foreign funds, said Aney at
bad debt resolutions are already starting to spark mergers and acquisitions.
Tata Steel Ltd
last month said it had completed the acquisition of a controlling stake in Bhushan Steel Ltd
Local bankruptcy courts are also working on other troubled firms such as Bhushan Power Steel Ltd
