Oaktree to access China NPLs via Cinda deal

Oaktree Capital Group has struck a joint venture with China Cinda Asset Management, marking a significant overseas entry into the mainland’s non-performing loan (NPL) market, which foreign firms have been keen to access.   US-based Oaktree, one of the world’s largest distressed investors with $79.8 billion in AUM, says it will jointly invest in mainland distressed assets with Cinda, one of four state-owned banks set up to acquire Chinese NPLs. Under a memorandum of understanding…