SSGA's Asia chief resigns; CIC subsidiary loses president; Citi appoints Philippines head; Vanguard relocates director to Singapore; JLL boosts China investment team; and SC Lowy hires bond chief.
Long considered one of Asia’s more difficult markets for private equity firms, Korea has seen a series of big deals this year that bode well for its future as an investment destination.
China's recent interest rate cut is seen as a positive for the mainland real estate market, but is tipped to reduce the potential distressed-debt opportunities available.
Distressed and illiquid assets specialist SC Lowy will likely gain a portfolio of South Korean non-performing loans by acquiring Shinmin from a troubled construction firm.
Boutique bank SC Lowy sees opportunities in secondary high-yield bond trading and private lending to Asian corporations, with Europe representing a new frontier.
Panellists at the AsianInvestor and FinanceAsia Asia-Pacific Debt Investor Forum mull over why demand for Chinese distressed assets is relatively low.