Alternatives Watch- Altana Wealth launches China debt fund

By Susan Barreto

Altana Wealth has launched a fund targeting distressed bonds from Chinese real estate developers caught in the country’s prolonged property crisis. The $500 million firm said the Altana China Recovery (ACR) Opportunity fund will focus on debt governed by offshore jurisdictions.

The team is targeting returns of two to four times over 18 to 36 months as the fund participates in the restructurings of distressed developers whose bonds are governed by New York law and who are entering consensual restructurings with creditors.

Managed by Portfolio Managers Benedict Keim and Mathieu Scemama, the fund is targeting $100 million in assets. The pair will collaborate with Altana CIO Lee Robinson, alongside the broader Altana team. The firm will invest its own capital in the fund to ensure that it is fully aligned with its co-investors.

“This is an archetypal Altana investment opportunity: specialist, overlooked, and asymmetric,” said Robinson, who founded Altana Wealth in 2009. “In a world of increased interest rates, inflationary pressure, and market overcrowding, smart investors want to allocate some of their portfolio to investments that can potentially supercharge their returns.”

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