The funds will target distressed assets in India and other Asian special situations and credit assets, says a source, amid rising demand for private debt.
The growth in credit-linked investment products has been spurred on by non-bank lending in Asia, where companies have been providing the corporate funding which banks are often unable to fulfil.
SSG Capital has held a second close of $160 million on its Asia-focused distressed deals fund.
What makes a situation special? Edwin Wong of SSG Capital Management provides enlightenment on that and talks about his activities since leaving Nomura.
Distressed specialists define their terminology and give their take on the market at the second AsianInvestor/FinanceAsia Distressed and Troubled Asset Investing Summit, held in Tokyo.