Cerberus Cap Eyes Stake In Arc
Cerberus Capital Management, a global distressed assets investment fund with investments of $8 billion, is exploring the possibility of either picking up a stake in an Indian asset reconstruction company (ARC) or floating its own ARC.
The company has estimated that there is a requirement of overseas funds to the tune of $ 8-10 billion for restructuring financial assets and creating a secondary market for bad loans in the country. It invests in impaired assets across the world. Of this around $ two billion is invested in Asia.
It is planning to raise another $ 2 billion and according to Jaideep Krishna, managing director Cerberus Capital Management a majority of this funds could be invested in India, if the conditions are conducive.
According to Krishna the ordinance doesn