Money & Banking

Aditya Birla Capital forms JV with Varde Partners to invest in stressed assets

Our Bureau Mumbai | Updated on August 29, 2018 Published on August 29, 2018

Aditya Birla Capital Limited (ABCL) has formed a joint venture with US-based global alternative investment adviser firm Värde Partners (Värde) to pursue investments in stressed and distressed assets in India.

Operating through a joint platform, both parties will evaluate investments across sectors, focusing on the acquisition, restructuring and resolution of the substantial supply of non-performing assets in India as well as special situations financings.

Ajay Srinivasan, Chief Executive of ABCL said, “The ARC business is a strong addition to the businesses we already have at ABCL. We see a large opportunity in the distressed space, especially in the mid-corporate segment. One of the things that we bring to the table as a Group, is that we understand how to run many businesses. We are looking at leveraging this skill set as we enter this new business. Thus, our decision to enter into a joint venture with Värde Partners, who bring restructuring expertise to augment our core strength. The expertise and experience of both ABCL and Värde, makes this a strong combination to capitalise on the opportunity that India presents.”

Ilfryn Carstairs, Co-CIO of Värde Partners said, “We see India as a core market for Värde and a critical part of our long-term strategy in Asia. We are particularly excited to partner with an organisation with the quality reputation and established relationships of ABCL to address what we believe will be a very large, multi-year opportunity. “

Värde currently manages about US$14 billion globally, and has invested nearly $500 million in India in the past five years across corporate stressed, distressed, special situations and lending assets.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on August 29, 2018
This article is closed for comments.
Please Email the Editor