HONG KONG, Sept 25 (Reuters) - Oaktree Capital Group LLC sees opportunities to invest “more aggressively” in Chinese and Indian distressed debt as the legal and regulatory systems of the countries develop, Chief Executive Jay Wintrob said on Monday.
“These are countries where the legal system, the bankruptcy code, the sanctimony of the rule of law are still under development, in a very positive way, by the way, especially in China,” Wintrob said at a news conference.
“As those institutions develop and the predictability of the outcomes, their willingness to uphold the priority of creditors vis-à-vis one another, you will see more opportunities to invest, to invest more aggressively.”
The company has invested in Chinese non-performing loans (NPLs), Japanese equities as well as Australian private equity and distressed debt, and was looking to make inroads in India. (Reporting by Elzio Barreto; Editing by Stephen Coates)