Capri Global to float $150-mn distressed asset fund for SMEs facing IBC

Capri Global Capital Ltd (CGCL), the Indian associate of US-based fund manager Capri global is setting up special situation fund (up to $ 150 million) in India to invest in medium and small size companies facing insolvency and bankruptcy cases.

It has also set up Asset Reconstruction Company (ARC) and has appointed Sanjay Jain, executive director at CGCL, to head its operations. Sanjay Jain previously was the President and Chief Operating Officer with the Asset Reconstruction Company India Ltd (ARCIL).

The focus of the investment and engagement with distressed units will be on the resolution. The stressed fund would be