Distressed Debt Firm SC Lowy Finds China Credit ‘Uninvestable’
- China lacks clear legal process and disclosure, says Lowy
- See ‘very compelling’ opportunies in private debt in Asia
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Credit investor SC Lowy Financial HK Ltd. has “very little exposure to China” and finds “the credit space uninvestable there,” according to the firm’s chief executive, citing the country’s murky legal proceedings and poor corporate disclosure.
“We believe that the lack of clear legal process and financial information means that the opportunity is a macro thesis, opposed to our investment philosophy of detailed corporate analysis coupled with downside protection,” Michel Lowy wrote in response to questions from Bloomberg News.