Broad Peak Investment Advisors Pte. Ltd (“Broad Peak”) and Brescon & Allied Partners LLP (“Brescon”) have entered into a strategic arrangement whereby Broad Peak intends to invest up to USD 300Mn in special situations in India. The strategy is to invest across multiple special situations in India ranging from turnaround, debt resolution to litigation financing, amongst others. This strategic arrangement between the two firms aims at improving the scale of the business between them as well as enhancing the agility with which these situations are identified, resolved, structured and funded.
Commenting on the arrangement, Sandeep Gupta, Managing Director at Broad Peak, said: “Brescon has a strong reputation in the arena of stressed/distressed debt in India and we look forward to working with them and other stakeholders in those domains.”
Nirmal Gangwal, Founder & Managing Partner of Brescon, said: “Broad Peak is known for their expertise in investing in special situations and we are excited to partner with them to be able to bring the appropriate capital to companies that are in need of such patient capital. This arrangement is a perfect combination of global capital backing local knowledge to achieve a win-win situation. The current arrangement with Broad Peak is a precursor to Brescon’s ambition of raising a dedicated special situation fund from LPs spanning both domestic and foreign investors.”
Broad Peak strongly believes that this strategic arrangement with Brescon will further enhance its access to special situations in India given Brescon’s reputation and track record in identifying and evaluating a range of special situation opportunities over many years.
Brescon firmly believes that the faith that Broad Peak has demonstrated with this strategic arrangement will be a catalyst in its ability to provide win-win solutions for all stakeholders in stressed companies that Brescon is working with.
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