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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.
The initial fundraising target is in the range of $300m to $500m and will target mid-market companies.
The $500m fund has started deploying capital, focusing on corporate and real estate investments across selected countries in Asia-Pacific.
The New York-headquartered investment firm has made two senior hires to push through private debt investments in the region.
A survey shows investors are pacing themselves when investing in emerging market private funds amid the pandemic crisis this year
The investment unit is building its credit exposure to the Asia-Pacific region by deploying proprietary capital and expanding staff numbers.
The credit manager is being supported by LP re-ups as it returns to fundraising mode despite challenging conditions amid the pandemic.

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