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TTGG Joins Hands with Shanghai Win & Shengjia, 10-Billion Fund Assists with the Disposal of Non-Perf

Date: 2017-01-11
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On Jan. 11, 2017, Zhejiang Silicon Paradise Asset Management Group (hereinafter referred to as “TTGG”) and Shanghai Win & Shengjia Asset Management Co., Ltd. (hereinafter referred to as “Win & Shengjia”) formally reached strategic cooperation. On behalf of the two companies, TTGG Managing Director ZHOU Xiaole and Win & Shengjia Board Chairman XIA Jianxin signed a 10-billion framework agreement on strategic cooperation, jointly initiated a 5-billion special asset investment fund and a 5-billion debt restructuring fund. The two sides will have close cooperation in fields like non-performing asset investment, trading and disposal, to further promote the innovative development of non-performing asset integration and M&A. This is Win & Shengjia’s first fund targeting non-performing assets after it got the license in Nov. 2016.   

 

According to the Framework Agreement on Cooperation signed on Jan. 11, the two sides can complement each other with their own advantages. As the first private AMC in Shanghai, depending on its license and project acquisition ability, Win & Shengjia takes part in non-performing asset credit assignment and debt restructuring, gains expected incremental benefits and brings investors stable risk returns by investing in non-performing assets (debt restructuring). In the future, TTGG will give full play to its rich experience in industrial investment and asset management, as well as its advantages in global resource allocation, to guide more social capital to take part in the disposal of non-performing assets through diverse forms of investment, depending on its marketized professional operation management and risk control ability.

 TTGG Joins Hands with Shanghai Win & Shengjia, 10-Billion Fund Assists with the Disposal of Non-Perf

TTGG Joins Hands with Shanghai Win & Shengjia, 10-Billion Fund Assists with the Disposal of Non-Perf

TTGG Joins Hands with Shanghai Win & Shengjia, 10-Billion Fund Assists with the Disposal of Non-Perf

As China’s economy enters a stage when “three periods are superimposed”, the bad bank loan ratio and commercial banks’ non-performing loan ratio keep growing. With the economic slowdown, an upsurge in bas asset disposal by financial institutions has come. In addition, it’s hard to count up the number of non-bank financial institutions, non-financial institutions, online loan platforms and various hidden local distressed assets. They also need rescue before the storm. Therefore, the non-performing asset disposal industry has entered a periodic opportunity window phase. The huge market has attracted many institutions. Non-performing asset securitization will become the mainstream.

 

TTGG and Win & Shengjia will bring their advantages into play, help enterprises transform and improve their business status by vitalizing and integrating distressed assets, restructuring, investing in and stripping enterprises in financial distress, as well as using other financial and legal means. In the meantime, through PE fund management, share holding and controlling by licensed financial institutions, short-term financial investment and M&A, they will help more local enterprises create, change and enhance value, play AMC’s role as a “stabilizer” to local economy and finance, add vitality to regional economic transformation and upgrading.

 

Shanghai Win & Shengjia Asset Management Co., Ltd. was founded with Shanghai Government’s approval. As verified by China Banking Regulatory Commission, its initial registered (paid-in) capital is RMB 1 billion Yuan. Jointly funded by Shanghai state-owned capital and private capital, it’s the first mixed ownership AMC in Shaghai. The company’s CEO is XIA Jianxin, the former Vice President of the Shanghai Branch of China CITIC Bank. On Nov. 7, 2016, the company got the license for disposing non-performing financial assets wholesale in the primary market. It’s the second local assets management company (AMC) in Shanghai after Shanghai State-Owned Assets Operation Co., Ltd.


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