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MUMBAI: Broad Peak Investment Advisors Pte. Ltd on Monday said it has entered into a strategic arrangement with Mumbai-based stressed assets advisory firm Brescon & Allied Partners LLP, to invest up to $300 million in special situations in India.
Through the collaboration with Brescon, Broad Peak aims to invest across multiple special situations in India ranging from turnaround, debt resolution to litigation financing, among others, the investment firm said in a statement.
The objective of the strategic arrangement is to improve the scale of the business between them as well as boost agility with which these situations are identified, resolved, structured and funded, the statement said.
“Brescon has a strong reputation in the arena of stressed/distressed debt in India and we look forward to working with them and other stakeholders in those domains," said Sandeep Gupta, Managing Director at Broad Peak.
Broad Peak is a pan-Asia focused multi-strategy investment management firm, combining a bottom-up research-based approach with detailed fundamental analysis and an understanding of value-creating catalysts to generate superior risk-adjusted returns for the funds under its management.
“Broad Peak is known for their expertise in investing in special situations and we are excited to partner with them to be able to bring the appropriate capital to companies that are in need for such patient capital. This arrangement is a perfect combination of global capital backing local knowledge to achieve a win-win situation. The current arrangement with Broad Peak is a pre-cursor to Brescon’s ambition of raising a dedicated special situation fund from LPs spanning both domestic and foreign investors," said Nirmal Gangwal, Managing Partner of Brescon & Allied Partners LLP.
Brescon specialises in providing services related to financial and corporate restructuring, recapitalisation, and debt refinance. It is also actively engaged in divestment advisory, mergers and acquisitions advisory, structured financing solutions and insolvency services under the purview of Indian Bankruptcy Code (IBC).
The firm recently appointed Vishal Prakash as a partner and head for its structured credit and recap funding business, with which it aims to enhance its product portfolio across special situations, structured credit and recapitalisation finance.
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