{"id":72016,"date":"2018-04-12T15:46:16","date_gmt":"2018-04-12T15:46:16","guid":{"rendered":"http:\/\/www.bnreport.com\/oaktree-capital-says-india-may-be-growth-engine-in-3-5-years\/"},"modified":"2018-04-12T15:46:16","modified_gmt":"2018-04-12T15:46:16","slug":"oaktree-capital-says-india-may-be-growth-engine-in-3-5-years","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/oaktree-capital-says-india-may-be-growth-engine-in-3-5-years\/","title":{"rendered":"Oaktree Capital says India may be growth engine in 3-5 years"},"content":{"rendered":"

By Denise Wee<\/strong><\/p>\n

Oaktree Capital<\/a> Group LLC, one of the worlds largest distressed debt investors, is eyeing India<\/a> as a key market as the nation overhauls its bankruptcy<\/a> rules and banks battle with a historic bad debt clean-up. <\/p>\n

\u201cI wouldnt be surprised to see India as another engine of growth maybe in the next three to five years,\u201d said Jay Wintrob, chief executive officer at the Los Angeles-based firm, in an interview in Hong Kong. \u201cWe are spending a lot of time in India, getting up to speed.\u201d <\/p>\n

Indias $210 billion pile of stressed assets and distressed borrowers have attracted global funds from Varde Partners to JC Flowers & Co. The nations so-called dirty dozen \u2014 12 large debtors that have been ordered to go through the bankruptcy courts \u2014 are testing the countrys insolvency<\/a> rules. A high-profile default by Reliance Communications Ltd<\/a>. is also proving a litmus test for how foreign creditors get treated. <\/p>\n

Oaktree, which has about $100 billion of assets under management, doesnt have an onshore presence in India, and currently invests a \u201cvery, very small amount\u201d in the nation, according to Wintrob. <\/p>\n

Local Partners
<\/strong>\u201cWe have yet to open our first Oaktree office in India. Thats something we have considered,\u201d said Wintrob. \u201cI think we are looking to form one or more local partnerships.\u201d <\/p>\n

The distressed debt investor has seven offices in Asia, including ones in Hong Kong, Singapore, Shanghai and Beijing. Wintrob said that \u201cunder the right circumstances,\u201d his firm may open a physical office in India at some point. <\/p>\n

Oaktree is following the limited number of insolvency proceedings in India and feels optimistic about how those proceedings are going, said Wintrob. Potential ways to expand in the nation could include setting up or investing in non-banking financial companies and Indias bad loan buyers, or so-called asset-reconstruction companies, he added. <\/p>\n

The firm is looking to lend directly to companies in India and also invest in bad loan portfolios, and is looking at sectors including energy and infrastructure, according to Wintrob. He declined to say whether Oaktree is looking at the dirty dozen. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

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ET Markets<\/a><\/h5>\n

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By Denise Wee<\/p>\n

Oaktree Capital Group LLC, one of the worlds ..<\/p>\n","protected":false},"author":1,"featured_media":72017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-72016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nOaktree Capital says India may be growth engine in 3-5 years - Business News Report<\/title>\n<meta name=\"description\" content=\"By Denise Wee Oaktree Capital Group LLC, one of the worlds ..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/oaktree-capital-says-india-may-be-growth-engine-in-3-5-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oaktree Capital says India may be growth engine in 3-5 years - 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