Outlooks

Doing your homework pays in Chinese distressed debt

By Liz Mak | 11 August 2008
Keywords: shoreline

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Ben Fanger, managing director at Shoreline Capital, explains the work behind the firm's $1.5 billion portfolio of distressed debt in China.

After a couple years of working on distressed asset lawsuits with US firm O'Melveny & Myers, Ben Fanger went to graduate school at the University of Chicago. There he met his future business partner, Zhang Xiaolin, who had a decade's worth of China real-estate development experience under her belt. The timing was good: China had just joined the World Trade Organisation and was trying to rid itself of non-performing portfolios.

The pair founded Shoreline Capital and began investing in Chinese distressed assets. Today the firm manages $1.5 billion of such portfolios.

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