Adalla Kim
The state-backed pension fund is on the hunt for managers to diversify its private corporate investment portfolio and ramp up offshore alternative investments.
Its first Asia-dedicated fund is mainly backed by US LPs as well as a few Asian LPs.
The firm’s investor base includes the IFC and Overseas Private Investment Corporation.
As smaller companies in the region face liquidity constraints, non-bank lenders are coming to the fore with financing solutions, writes Adalla Kim
Mid-market GPs are benefitting from demand from Korean investors as the capital flows into direct lending, for now at least.
The new facility is set up as a ‘rolling’ fund, targeting investments in Australia and New Zealand.
The new senior hires come as the firm goes about building up its global private debt team.
Oaktree co-founder Howard Marks tells PDI that it is hard to achieve an adequate return in such a ‘hot market’.
Recent defaults have deepened concern over mismatched asset-liability durations in non-banking lending.
The fund-of-funds manager will explore opportunities in the US distressed debt market as it seeks dislocations in asset pricing.