Beijing-based DCL investments, a spin-out from Shoreline Capital, has collected RMB3.7 billion ($500 million; €459 million) for its debut fund.
The vehicle is an RMB-denominated fund, and will focus on investing in non-performing loans, high-yield bonds, special situations and rescue financing in China.
“We estimated that there would be RMB5 trillion of non-performing loans in the Chinese banking industry.
