"Asian distressed is struggling to attract as much money as its brethren in other parts of the world.
"The US is at the forefront of allocating to distressed strategies," says Marlin Naidoo, award-winning prime broker and head of hedge fund capital group for Asia-Pacific at Deutsche Bank. "But their money is mainly going to US distressed managers. Over here, Asian investors have spent less time looking at Asian distressed managers."
In Asia, investors want liquid strategies. Japanese investors in particular are credited with being fixated on the short-term time horizon.
"We had a pot of capital destined for distressed strategies from European investors," says Doug Coulter, Asia-Pacific head of private equity for LGT Capital Partners. "However, that got deployed in Europe and America. Our investors are more interested in the growth story of emerging Asia instead of the distressed themes here.""
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