ifcs-avenue-to-asian-bank-distressed-plays

IFCÆs Avenue to Asian bank distressed plays

The private-sector arm of the World Bank seeds another fund to acquire and resolve Asian banksÆ distressed assets.
The International Finance Corporation, the private-sector arm of the World Bank Group, will invest $50 million in the Avenue Asia Special Situations Fund IV, which is dedicated to the disposal or restructuring of non-performing assets. It will do so by focusing on individual assets and asset pools.

New York-based Avenue Capital Group, founded by Mark Lasry and Sonia Gardner, manages $12 billion of assets and has eight offices throughout Asia.

The fund will invest mainly in China and India, but may also take positions in other markets such as Indonesia, the Philippines and Thailand.

The IFC has supported a variety of efforts to work out distressed assets in emerging markets. In 2002, it supported...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222