Jun
24
In China Debt Crackdown, Morgan Stanley-Backed Fund Sees Opening
By-
Abax Global aims to raise funds focused on China lending
- Shadow banking crackdown has led to rising demand for funding
China’s crackdown on shadow banking is leaving otherwise-healthy companies starved of funding, says Abax Global Capital, which is looking to plug the gap.
The manager of debt and private equity funds, which counts Morgan Stanley as a shareholder, aims to raise money from investors later this year and lend more in China, according to Michael Wang, managing partner and president. Any such fundraising would likely exceed $235 million, the size of Abax’s last U.S. dollar fund, he says…
In China Debt Crackdown, Morgan Stanley-Backed Fund Sees Opening
