Abu Dhabi’s sovereign wealth fund said on February 28 its subsidiary was launching a fund with India’s Kotak Investment Advisors.
The fund will target a range of non-performing loan (NPL) opportunities in India, ADIA said in a statement.
The fund will “target both pre-stress and distressed opportunities, with a key focus on providing financial support to pre-stress businesses to prevent them from entering insolvency,” it said.
The partnership will “help to ease the burden of NPLs on the Indian financial system,” said Hamad Shahwan Aldhaheri, executive director of the private equities department at ADIA.
[“source=moneycontrol”]
