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The organisation’s new distressed asset recovery platform will look to acquire unsecured consumer loan packages.
The decision to cap the private lending rate may increase competition for quality borrowers and reduce interest margins and profitability, say analysts at Fitch Ratings.
The Mumbai-headquartered asset manager is due to close its latest performing credit fund soon as the Canadian LP backs its India-focused approach.
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M&G Investments’ origination team has grown its portfolio from zero to nearly $500m in the region, focusing on consumers and trading companies.
The firm now manages $40bn, of which $15bn is in private debt and liquid strategies.
The latest research outlines some of the key attributes of the private lending markets in Asia.
The corporate default threshold has increased by 100 times to try and protect small businesses.
Lenders are challenged as borrowers face higher bills once the holiday ends.
The new role will look to take advantage of disintermediation of Australian debt provision.
Company stakeholders are to discuss and agree on key details of the firm’s insolvency plan during the next creditor meeting. Interested parties include Bain Capital, Broad Peak, Tor Investment, and Queensland Investment Corporation.

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