US stressed assets firm picks up stake in ARCIL as sovereign wealth fund exits

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Asset Reconstruction Company (India) Ltd (ARCIL) announced on Monday that it will sell a 27% stake to Avenue Capital, a US-based investment firm which focusses on distressed assets, in a secondary transaction. The deal will see six of ARCIL’s existing investors sell their shares, chief executive officer Vinayak Bahuguna told VCCircle. ......