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From Christine Gaylican, Opalesque Asia:
Another player came in to take advantage of an estimated $1 to $2-trillion in distressed debts and illiquid investments in the Asian region over the next two years (Source).
SC Lowy Financial Services was launched today in Hong Kong following the steps of Pacific Alliance Group and former Goldman Sach's top-paid partner Mark McGoldrick's Mount Kellett Capital Management Ltd., which begun operations in the island-state last month.
A statement today confirmed that SC Lowy's founding partner Michel Lowy, a former distressed debt banker at Deutsche Bank and his former colleague Soo Cheon Lee had put up the boutique bank.
"SC Lowy plans to expand in the region, starting with an office in Tokyo that will focus on Japanese non-performing loans. The Tokyo office is set to open in the fourth quarter of this year. We also plan to open an office in Australia to capture growing opportunities," said Lowy.
Lowy and Lee, who previously led Deutsche Bank's Asian distressed products group, will be based in Hong Kong and a support staff of 14 bankers. SC Lowy has fully integrated research, sourcing, legal and operational expertise to provide clients with unparalleled access to distressed market opportunities and complex transaction execution capabilities.
The Asian financial crisis in 2007 and the ra...................... To view our full article Click here
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