Oaktree and China Cinda Asset Management form JV
Oaktree Capital Group and China Cinda Asset Management are to jointly invest in distressed assets in China and to cooperate with respect to distressed assets investments in markets outside China.
The memorandum of understanding states that Oaktree and Cinda will establish a strategic relationship and pursue business cooperation opportunities using Cinda’s experience in China and Oaktree’s experience elsewhere.
Both parties anticipate forming a joint venture that will be equally owned by Oaktree and Cinda to invest in distressed assets in China, subject to negotiation and execution of definitive documentation.
John Frank, managing principal of Oaktree, says: “We are excited to partner with Cinda, the market leader in distressed investing in China. Cinda's experience and expertise in China is unparalleled and will afford us a unique opportunity to participate in China’s distressed debt markets. At the same time, we look forward to sharing our global insights and expertise with Cinda.”
Jianhang Hou, chairman of Cinda, says: “It's a rare opportunity for two premiere firms to combine their expertise in investing, and we are pleased to be working with such a strong partner as Oaktree. We believe today’s announcement represents the beginning of a powerful partnership for each company to leverage their existing talents and expertise to build a great entity.”
- By Category
- News from other sites
- Special Reports
- Partner events