Foreign distressed debt managers are building a presence in China, undeterred by an opaque legal system but equally encouraged by government steps to open up to specialised players and reduce a mountain of corporate bad debt.
New measures that include a pilot programme to securitise bad loans may only act to dent an estimated 4 trillion yuan ($620 billion) of distressed debt, but big foreign firms believe the economy's slowing growth is pressuring Beijing to allow alternative ways to reduce debt.
KKR & Co LP and Oaktree Capital Group LP, as well as niche players such as Clearwater Capital Partners and Shoreline Capital Management, have all staked out plans in China's distressed debt market.
Realtor.com Reports Active Inventory UP 25.5% YoY; New Listings up 14.9% YoY
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year-over-year change in active inventory and new listings. On a monthly
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