ADM Capital has been seeking debt financing opportunities among distressed Chinese companies for more than 15 years. While that opportunity remains strong, its funding of outbound deals is shrinking.
Writing a cheque to charity or getting one's name on a building is no longer enough. Philanthorpists are getting more ambitious – and that's a good thing.
Permira backs a $200 million management buyout of Asia Broadcast Satellite from a consortium of private equity investors led by CVC, leaving it with a majority stake.
The Chinese solar power company raises close to $203 million of new capital for debt repayments, while the chairman realises $39 million by selling a small portion of his holdings.
Once the playground of hedge funds, distressed assets are attracting more interest from private banks, boutique firms, local players, sovereign wealth funds and institutions.