IFCÆs Avenue to Asian bank distressed plays

The International Finance Corporation, the private-sector arm of the World Bank Group, will invest $50 million in the Avenue Asia Special Situations Fund IV, which is dedicated to the disposal or restructuring of non-performing assets. It will do so by focusing on individual assets and asset pools.New York-based Avenue Capital Group, founded by Mark Lasry and Sonia Gardner, manages $12 billion of assets and has eight offices throughout Asia.The fund will invest mainly in China and Ind…