Hong Kong, November 28, 2017 /Xinwengao.com/ - Under the backdrop of an economic rationalization and a government-led campaign to reduce excess capacity and lower corporate stock and leverage, the investible assets in this wave of expected rising distressed debt in China has clearly different characteristics compared to past cycles.

China Money Network has researched that the latest wave of deals in Chinese distressed debt space appear to have higher asset quality compared to previous non-performing loans entering the market. This could mean that legal complexity of these obligations is much greater this time around. So as the government’s determination to strengthen implementation of the Bankruptcy Law provides a more robust legal environment for investors operations in China, an expanded investment strategy for bankruptcies, NLP’s, debt-to-equity conversion and emergency funding all are expected to be deployed as this market continues to mature.

“This high-level event will gather relevant market investors and deal makers together for a practical ‘lessons learned’ panel discussion on investment opportunities on China’s special situations market,” said Naveet McMahon, managing partner of China Money Network. “Participants wanting to explore the challenges and avoid the pitfalls of these opportunities should join our event.”

China Money Network and KPMG  are proud to present the annual Special Situations Forum: China 2017 to gather leading industry experts to brainstorm and share valuable insights.

Only limited seats are open for public registration. Registration is available here:

https://www.chinamoneynetwork.com/special-situations-forum-china-2017

EVENT DETAILS:

Date: Wednesday, December 13, 2017

Time: 8:00AM-10:30AM

Location: JW Marriott Hotel, One Pacific Place, 88 Queensway, Admiralty, Hong Kong

Language: English

8.00 Registration & Breakfast

8.30 Opening Keynote Address

8.40 Panel Discussion

9.40 Interactive Q&A & Networking

10.30 End

SPEAKERS

Opening Address: UBS: Jason Bedford

Mr. Bedford is in the Asian Financial Institutions Research team at UBS, where he has a focus on China bank and non-bank lenders. Prior to that, he spent nearly nine years in Beijing primarily auditing and consulting for mainland financial services sector clients with KPMG. He had a core focus on the banking and shadow banking sectors, which included the trust sector, leasing, micro-finance and credit guarantee.

PANEL SPEAKERS:

Bain Capital Credit: Kei Chua

Kei Chua is a managing director based in Bain Capital Credit’s Hong Kong office and is a member of the Distressed and Special Situations team focused on special situations and portfolio investing. Previously, Mr. Chua was the co-head of Asia for Mount Kellett Capital focused on special situations and distressed investing. Prior to that, Mr. Chua was a partner with Unitas Capital, where he was responsible for investments in Greater China and Southeast Asia. Mr. Chua worked at Cerberus Capital and DLJ in Hong Kong and New York earlier in his career.

Shenzhen Qianhai Financial Asset Exchange: Ruth Ru

Ms. Ru Xia is general manager of the cross-border business division of the Shenzhen Qianhai Financial Assets Exchange Ltd., an exchange backed by Ping An Insurance providing registrations, transfers, trading and settlement of distressed debt assets and other financial assets. Ms. Ru was previously financial officer of China Construction Bank branch in Dubai since 2013. She has also been deputy head of department of China Construction Bank Corporation Regional Audit Office (Hong Kong), and also the chief manager of audit department of CCB International (Holdings) Ltd.

Poseidon Capital Group: James Feng

James Feng is founding partner of Poseidon Capital Group, an investment firm focused on investing in non-performing loans, distressed debt, distressed real estate and distressed companies in China. Before founding Poseidon Capital, Mr. Feng worked at Partners Group, Apollo Global Management, HSBC Holdings and Morgan Stanley.

William Hay & Co: William Hay

Mr. William Hay is the founder of William Hay & Co.Ltd. He advises private equity funds and private equity backed companies on legal and related strategic issues arising from fund raising, mergers & acquisitions, leveraged finance and stock market listings and other forms of exit. Mr.Will’s previous experience includes serving as general counsel of Baring Private Equity Asia. Prior to joining Baring, he held similar positions in with GE Capital Asia and Colony Capital. He also acquired and turned around a distressed hotel in China. Will was a partner in a Wall Street law firm before relocating to Hong Kong in 1995.

KPMG: Wilson Pang

Wilson Pang is a partner and Head of Turnaround, Restructuring Services at KPMG.  He also leads KPMG China’s Special Situations team, helping Chinese state-owned and private-owned enterprises on restructuring and reform.  Over the last 4 years, Wilson and his team has assisted Chinese banks to dispose over Reminbi 350 billion NPLs into the market.  Prior to KPMG, Mr. Wilson was Head of China, Special Opportunity Fund & Senior Investment Professional at TRG Management Hong Kong Ltd., also known as the Rohatyn Group.  Wilson was previously also a Director of Citigroup’s Global Special Situation Group, where he was responsible for Greater China distressed assets, non-performing loans portfolios, pre-IPO and growth equity investments.

MODERATED BY:

China Money Network: Nina Xiang

Nina Xiang is the co-founder and managing editor overseeing editorial content and product development at China Money Network. Before founding China Money Network in 2011, Nina worked at BusinessWeek magazine in Beijing and Institutional Investor magazine in New York, covering business and financial services in China and the U.S. While in New York, she also served as part-time correspondent for Shanghai’s financial television channel China Business Network, as well as China Radio International, China’s national English-language radio network.

DISCUSSION TOPICS:

– How is the current distressed debt cycle different from past ones in China?

– For offshore investors, what are the developments that have made their investment proposition more viable and attractive? Conversely, what risks have become more pronounced?

– Which strategy appears most promising, and what are the constraints?

– What are the impact of multiple new entrants to the market? Does it mean a further squeeze to profitability to all players?

– Generalist vs. specialist: What are the key skills needed to navigate the highly risky distressed debt market in China?

Only limited seats are open for public registration. Registration is available here:

https://www.chinamoneynetwork.com/special-situations-forum-china-2017

ABOUT CHINA MONEY NETWORK:

China Money Network hosts an artificial intelligence (AI)-based bilingual platform that follows China’s smart investments, special situations and technology innovation every day. By tracking China’s private equity, venture capital and technology sectors, we deliver actionable data to our customers.

CMN provides a unique way to target deal makers, top decision-makers and business leaders in China and around the world. We are well positioned with our team of experts and advisors to uncover forward looking cross-border deal flows not only for our customers in China but those trying to enter this highly lucrative marketplace.

Millions of professionals rely on CMN to take the business pulse of China and to follow daily/weekly trends, expert network events, exclusive company rankings, customized thought leadership research, subscription-based digital services as well as our Chinese language platform www.zhongjintoux.com, bridging global investors with business opportunities in China.

CMN, founded in 2011, is headquartered in Hong Kong and operates from offices in Shanghai, Beijing, Shenzhen, Hangzhou and Los Angeles. We are an independent business owned by our founding team and employees.

For further inquiries, please contact:
Naveet McMahon: nm@chinamoneynetwork.com

The press release China Money Network and KPMG Present the Annual “Special Situations Forum: China 2017” in Hong Kong comes from Xinwengao.com press release distribution and journalist media database service in China.

Beijing, China, July 13, 2012 /Xinwengao.com/ - Howard Marks, co-founder and chairman of Los Angeles-based Oaktree Capital Management, says the firm’s China fund’s performance is mediocre. The 66-year-old King of Distressed Debt gives a barely passing grade to Oaktree’s China fund.

“I would say [the fund’s performance] has been about a C+ in absolute terms,” Marks says. “We haven’t lost money, but I don’t know how others have done. So maybe the answer is: as good as anyone.

Marks made the comment while talking to Nina Xiang, host of China Money Podcast (www.ChinaMoneyPodcast.com), a highly ranked new media show focused exclusively on investing in China, in the podcast’s one-year anniversary special episode.

During its first year of operations, China Money Podcast has quickly expanded its viewership with its free weekly audio and video podcasts, available at www.chinamoneypodcast.com, on iTunes, and other online destinations. The podcast has featured guests including legendary investor Jim Rogers and Mr. China, Jack Perkowski, among other prominent China-focused investors. The anniversary special program featuring Howard Marks provides a rare opportunity to look into Mr. Marks’ views on China and investing.

Howard Marks co-founded Oaktree Capital Management in 1995, and have built the firm into a distressed debt powerhouse with $78 billion under management. Oaktree’s 17 distressed debt funds have averaged annual gains of 19 percent after fees for the past 22 years, beating its peers by about 7 percentage points, according to consulting firm Cambridge associates.

But Oaktree’s performance in China – its Beijing office was established in 2007 and focuses on private equity – is less than stellar. Marks says that the firm is cautiously moving ahead in the Chinese market.

“We invested slowly. It’s not fully invested yet, and probably won’t get fully invested,” he says. “It did not invest in distress-for –control or loan-to-own situations.”

Known as an “eternal worrier,” Marks sees a number of concerns in China’s future. He says in the interview: “China’s customers – the U.S. and Europe – have been growing very slowly themselves. So that will have a retardant effect on China’s economy as well. The combination of the two suggests that China will go into a slow period.”

Marks also points outs that the shaky foundation of China’s legal system could pose unexpected risks to investors in China. “The world has yet to see how it is to do business in China dealing with issues such as property rights: whether foreign private investors can do well as owner of businesses. It’s important that people do not assume that business-as-usual in China is the same with business-as-usual elsewhere.”

He explains that it is part of the reason that Oaktree’s China operations have stayed away from its traditional distress-for –control strategy in China.

“In our distressed debt investing, we often invest in the debt of the companies that fail to pay for their debts because we have creditor rights that can give us access to the value of the company. We don’t know how creditor rights will be treated in China, so we probably won’t invest in (it).

But Marks also noted that the correction in valuations in China is a positive in its investment outlook: “Valuations in China have corrected quite a bit from two or three years ago when everybody assumed China’s outlook was flawless for eternity. Prices have come down considerably both relative to other countries and in absolute terms. That’s very healthy for the investment outlook.”

Marks made the comments to China Money Podcast after promoting in China the Chinese version of his book, The Most Important Thing.

About China Money Podcast
China Money Podcast is a highly ranked new media show focused exclusively on investing in China. With prominent guests ranging from China-focused fund managers, economists to analysts, the podcast is widely followed by the investment community in and outside of China.

Hosted by Nina Xiang, a veteran financial journalist, the podcast is the source of local knowledge and insights – on-the-go – for investors interested in China. The podcast is available on its website, in iTunes, and other podcast syndication platforms.

www.ChinaMoneyPodcast.com

The press release Howard Marks Gives Passing Grade To Oaktree’s Investment Performance In China comes from Xinwengao.com press release distribution and journalist media database service in China.