Wealth Briefing- Altana Wealth Targets China’s Real Estate

By Amanda Cheesley, Deputy Editor

Altana Wealth, a specialist fund manager focused on delivering alpha from niche strategies uncorrelated to other asset classes, has launched a new fund.

Altana Wealth a specialist asset manager, has launched the Altana China Recovery Opportunity (ACR) fund to deliver asymmetric payoffs from investments in Chinese real estate bonds, despite the challenges faced by China's real estate.

Altana Wealth focuses on distressed and event-driven credit through strategies such as Altana Distressed Opportunities, Altana Credit Opportunities, Altana Asymmetric Opportunities and the Altana Event-Driven Credit Fund.

Targeting returns of 2 to 4x over 18 to 36 months, the fund aims to participate in the restructurings of distressed offshore Chinese real estate developers whose bonds are governed by New York law and who are entering consensual restructurings with creditors, the firm said in a statement. With more than 40 private developers in China now facing complex, multi-year restructurings with their offshore bonds, Altana believes that the combination of bottoming prices and a policy backdrop favouring asset recovery presents an overlooked opportunity in which a significant asymmetric payoff is achievable.

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