IFC and Clearwater Capital to invest in distressed assets in India

IFC will be channeling financing to local companies in distress, supporting them to meet their financial obligations, achieve sustainable growth and contribute to job creation and local economic stabi

International Finance Corporation (IFC) is planning to co-invest in to acquire distressed and special situations assets in four countries including India through a special purpose vehicle (SPV) formed by Clearwater Capital Partners. 

The project consists of an IFC investment, under IFC Distressed Asset Recovery Program (DARP), of up to $75 million to invest in distressed and special situations assets of companies operating in emerging markets in Asia including India, China, Indonesia, Philippines, Thailand, and Vietnam.

The proposed transaction consists of upto a $75-million facility to the Project SPV, in the form of  $50 million senior debt and $25 million junior debt, with