Oaktree Capital says India a key market, another growth engine in 3-5 years

Oaktree, which has about $100 billion of assets under management, doesn't have an onshore presence in India

Oaktree Capital Group LLC, one of the world’s largest distressed debt investors, is eyeing India as a key market as the nation overhauls its bankruptcy rules and banks battle with a historic bad debt clean-up.

“I wouldn’t be surprised to see India as another engine of growth maybe in the next three to five years,” said Jay Wintrob, chief executive officer at the Los Angeles-based firm, in an interview in Hong Kong. “We are spending a lot of time in India, getting up to speed.”

India’s $210 billion pile of stressed assets and distressed borrowers have attracted global funds from Varde Partners