JC Flowers, Eight Capital to launch fund to invest in distressed assets

The JCF Fund will be set up as an umbrella variable capital company (VCC) in Singapore to aggregate contributions of international investors for investment in distressed companies in India

US-based PE firm J.C.Flowers and Ravi Chachra-floated Eight Capital are planning to launch a $500 million fund to invest in mid-size corporate distressed assets in India. International Finance Corporation (IFC), the investment arm of the World Bank, will infuse over $100 million in the fund.

The fund will join the other global and domestic PE firms that are lining up to invest in the distressed assets in India, which they say is not only available at an attractive valuation, it also comes with good management and opportunity. 

According to reports, India's stressed assets market is estimated to be over $115