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September 21, 2016

Multiples PE to venture into special situation investing: Mint

A Mint article titled Multiples PE to venture into special situation investing quotes Venture Intelligence data on Investors and investments in the Distressed Assets field. (According to the article the gross bad loans of 39 listed Indian banks, in absolute terms, rose 92% in fiscal 2016 to Rs 5.79 trillion.)

Other global private equity funds such as KKR and Co., Hong Kong-based SSG Capital Management and International Finance Corp. (IFC), the investment arm of the World Bank, have already acquired stakes in existing ARCs to buy bad loans. In January 2015, IFC invested in Encore Asset Reconstruction Co. Pvt. Ltd and in March this year, the Foreign Investment Promotion Board gave approval to KKR & Co. for picking up a stake in International Asset Reconstruction Co. Pvt. Ltd.

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