Singapore headquartered Opvs Group has held the first closing of its Asia Opportunity Fund.
The fund has started investing and is focused on generating superior returns from a portfolio of private and public debt financings from Asian medium tier growth companies.
Chris Francis, chief investment officer for the fund, says: ‘The timing of the launch is very fortuitous, as the Western financial crisis has led to stressed selling of well-structured and performing Asian private debt transactions by global banks and funds. We are now able to cherry pick between a wide range of investments at attractive yields. At the same time, Asia continues to demonstrate solid investment credit fundamentals based on continuing growth, soundly financed banks, lower corporate leverage and high personal sector savings rates.’
The fund is closed ended and will ramp up during the next 12 months with a number of further closings before regularly returning principal and interest to investors as the portfolio matures.
Opvs Group will launch its second fund strategy in the coming weeks. Dubbed Fundamental Asian Credit Fund, it is a long-short open-ended fund focused on the improving fundamentals of more liquid Asian credit instruments.