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Broad Peak partners Brescon for $300 mn special situation investments

Mumbai: Broad Peak Investment Advisors Pte. Ltd has entered into a strategic agreement with stressed assets advisory firm Brescon & Allied Partners LLP, to invest up to $ 300 million in special situations in India, the investment firm said in a statement.

Through this collaboration with Brescon, Broad Peak aims to invest in multiple private positions in India ranging from turnaround, debt resolution to litigation financing, among others. The objective of the strategic arrangement is to improve the volume of business between them, as well as to improve the flexibility with which they identify, resolved, structured and funded, as per the statement.

"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 areas," said Sandeep Gupta, CEO of Broad Peak.

Broad Peak is an Asia-wide focused multi-strategy investment management company that combines a bottom-up research-based approach with detailed fundamental analysis and an understanding of value creation catalysts to generate risk-adjusted superior returns for the funds it manages.

"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 need that patient capital. This arrangement is the perfect combination of global capital supporting local knowledge to achieve a win-win situation." Nirmal Gangwal, Managing Partner at Brescon & Allied Partners LLP, said the current arrangement with Broad Peak is a precursor to Brescon's ambition to raise a fund dedicated to LP's private position that includes both domestic and foreign investors.

Brescon specializes in providing services relating to financial and corporate restructuring, recapitalization and debt refinancing. He is also actively involved in liquidation advice, M&A advice, structured finance solutions and insolvency services within the scope of the Indian Bankruptcy Law (IBC).

The company recently appointed Vishal Prakash as a partner and director of its structured finance and credit business, through which it intends to enhance its portfolio of products in special positions, structured credit and recapitalization finance.

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