Arena Investors, LP (“Arena”), a $2.6 billion institutional asset manager, and Kai Investment Management (“Kai”), a specialist private debt investment firm based in Singapore, announced that they have established a joint venture with initial capacity to deploy up to $100 million in South East Asian corporate credit special situation opportunities.
The strategic partnership between the two firms will enable Arena to expand its offering of financing solutions in Asia and for Kai to broaden its private debt offering across the credit spectrum. Arena team members in Melbourne and Singapore will collaborate with the Kai team.
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Reuben Lee, CEO of Kai, said: “We have known the team at Arena for some time and share a common approach towards opportunities including a disciplined focus on entry price, underlying value, influence, alignment and exit. We are therefore pleased to partner with Arena as we work together to pursue opportunities in this growing and very exciting space in South East Asia.”
“Kai has a well-established track record of private credit in Asia and a keen understanding of the requirements and nuances of executing transactions in the region,” said Dan Zwirn, CEO of Arena Investors. “We have known and respected Reuben and his team for many years and look forward to working with them.”
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Kai has an established team with broad-ranging experience managing capital and the requirements of global investors with the local demands of Asian markets. Asia’s middle market transactions attract significant yields but are often smaller, more customised and sourced directly from owners. This requires independent nimble managers such as Kai, with on-the-ground experience, relationships and understanding of varied markets and legal jurisdictions.
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