Singapore’s distressed assets fund SSG Capital buys 49% of Asset Care

By PTI
12 September, 2014

Asset Care and Reconstruction Enterprise has sold 49 per cent stake to Singapore-based SSG Capital Management Pte Ltd for an undisclosed amount.

ACRE is promoted by IFCI, Punjab National Bank, Tourism Finance Corporation of India and Bank of Baroda.

It has become the only asset reconstruction company in the country to have received 49 per cent Foreign Direct Investment, ACRE said in a statement.

SSG Group specialises in distressed and special situation investments in deep-value assets that are afflicted by dislocations in pricing and market liquidity, it said.

The induction of SSG as a strategic investor will help ACRE augment capital base through which it would be able to participate more actively in the sale of Non-Performing Assets and to acquire large value transactions, it said.

Further, SSG’s global experience and specialisation in distressed asset management would benefit the management and employees of ACRE with its in depth knowledge and expertise in the field of distress asset management, it said.


Leave Your Comment
SSG Capital may float investment vehicle to buy stressed assets in India

SSG Capital may float investment vehicle to buy stressed assets in India

Keshav Sunkara 2 weeks ago
Singapore-based stressed assets investor SSG Capital Management plans to float an investment vehicle to buy distressed assets in India, according to a media report. The...
Axis Bank buys 13.67% stake in asset reconstruction firm ACRE for $3.4 mn

Axis Bank buys 13.67% stake in asset reconstruction firm ACRE for $3.4 mn

PTI 11 months ago
Private sector Axis Bank will buy 13.67 per cent stake in Assets Care and Reconstruction Enterprise (ACRE) from IFCI Ltd for Rs 22.72 crore. A...
Exclusive: Distressed asset advisor Capital Optima, others invest in SSG-backed ACRE

Exclusive: Distressed asset advisor Capital Optima, others invest in SSG-backed ACRE

Anuradha Verma 1 year ago
Distressed asset advisory firm Capital Optima, along with some other investors, has invested an undisclosed amount in Assets Care & Reconstruction Enterprise Ltd (ACRE), sources...
No Comments

Singapore’s distressed assets fund SSG Capital buys 49% of Asset Care

Powered by WordPress.com VIP