As stated by the IFC, the proposed project entails IFC’s investment in a co-investment vehicle (DARP SPV) to be established with ShoreVest Capital Partners Ltd., an established private asset manager investing in both distressed assets and special situations in China. The DARP SPV will be managed by ShoreVest with an investment period of up to three years. The DARP SPV will focus on investment and resolution of non-performing loan portfolios in China, with primary focus on portfolios comprising of SME loans and in frontier regions.
The DARP SPV is expected to be registered in Cayman. For each target investment, the DARP SPV will setup a separate acquisition structure consisting of a SPV in Cayman or BVI and a second SPV in Hong Kong SAR which will acquire and hold the NPL portfolios in China.
The IFC categorized the project as FI-2.
As stated by the IFC, ShoreVest is an institutional private credit asset manager with established track records on both distressed asset and special situations in China. It is ultimately owned by its management team, with the founder and managing partner holding the largest stake.
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Financial Intermediary - ShoreVest Capital Partners Ltd.:
Benjamin Fanger - Managing Partner
Phone: +1 (408) 827-4060
Address: Guangzhou International Commercial Center, Suite 1503 No.235, Tianhe North Road, Guangzhou, China 510610
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