Siguler Guff Does Distressed and BRIC -- Why Not Distressed BRIC?
Siguler Guff managing director Ching Tan said today that his firm is looking into China's distressed market, but has yet to make any plays. It's not certain which fund the investment would come from, since the firm recently closed its third distressed fund-of-funds and is on the cusp of closing its second BRIC fund (BRIC stands for Brazil, India, Russia & China). My best guess is that it would be the latter, since that's the fund Ching manages. Ching's comments were made on a panel at China Venture Capital & Private Equity Forum at the Westin Times Square, New York. Siguler Guff's interest in the area contrasts sharply with comments made earlier today by a panel "regional experts" on distressed investing in Asia. According to Reuters, investors at a FinanceAsia conference said it is too early to jump into distressed investing across Asia.
