Hong Kong-based alternative credit manager Tor Investment Management has raised $310m for its third Asia opportunistic private credit fund, according to a report by Bloomberg citing Co-Founder and Portfolio Manager Christopher Mikosh.
The report quotes Mikosh in an interview saying that while local lenders typically don’t lend in the $25m to $50m range, Tor, which has $2.1bn of AUM, targets deal sizes of $50m-$150m, a range underserved by larger funds.
Mikosh said it was “impossible not to acknowledge the enormous amount of pain investors have suffered in China over the last few years” but also highlighted that China’s unprecedented property debt crisis was creating private credit opportunities across Asia.
