TIG Advisors, the New York-based alpha-focused manager which makes growth equity investments in alternative asset management firms, has bought a minority stake in Hong Kong-based credit and distressed situations specialist Arkkan Capital.
TIG – which has around USD7 billion in assets, providing growth capital, infrastructure and management support to investment teams – acquired the minority revenue share interest from a fund managed by a Blackstone advisor and Arkkan seeder, which will remain an investor in the Hong Kong-based fund.
Established in 2013 by Jason Brown, Arkkan now has around USD1 billion in assets under management, targeting credit, distressed and special situations opportunities across the Asia Pacific region.
Brown – who said TIG has “a proven track record” of helping alternative asset managers achieve their business objectives – will remain chief investment officer and will control the firm’s day-to-day operations and investment processes.
The strategic partnership will see TIG collaborate with Arkkan mainly on marketing and business development activities.
“Arkkan has a well-earned reputation for its ability to navigate Asia’s dynamic and growing credit markets, investing successfully in a broad range of performing, stressed and distressed situations,” said TIG president Spiros Maliagros, noting the Arkkan team’s “expertise and disciplined approach” in generating attractive returns.
