Point Hope’s New Distressed Credit Fund To Acquire Asian Consumer Non-Performing Loans

Category: Finance
Posted Apr 7, 2023 07:49 (GMT +7)


Point Hope Pte Ltd, a Singapore-based fund manager, has partnered with Longan Group Pte Ltd, the leading investor and debt servicer in Southeast Asia, to launch a funding platform that will acquire, service and restructure consumer NPL portfolios in emerging markets across Asia. The Singapore-domiciled fund, called Annexe Fund VCC - Longan NPL Fund (the “Fund”), was launched in 2022 and mainly invests in delinquent unsecured consumer credit in Vietnam and Indonesia, with plans to enter India, Malaysia, Philippines and Thailand in the coming years.

The Fund partners with regional financial institutions and fintech companies to purchase NPL portfolios from their books. Managing the Fund is a team with 10 years of track record in consumer credit globally, comprising 150 staff members in Vietnam and Indonesia with extensive experience in credit scoring, data analysis and best practices. Longan Group’s collections teams are tech-enabled and place a strong focus on ethical resolutions to help customers reduce their debt burden and optimize cash flows. The Fund’s infrastructure in Asia uses an advanced proprietary credit scoring system that applies artificial intelligence and machine learning tools to price non-performing loans.

Within six months of launch, the debt servicing business in Vietnam became a top 3 market leader, growing its local NPL book to over USD 300 million. The Fund aims to gain a first mover advantage in the Asian consumer NPL space, aided by multiple tailwinds such as rising household debt, greater financial inclusion, and a significant growth in consumer credit.

Fundraising started in November 2022 and has amassed a wide variety of both retail and institutional interest. The Fund is denominated in USD and offers investors an expected total return of up to 15% per annum, consisting of quarterly coupon payments and capital appreciation.

Subra Iyer, CEO of Point Hope, adds: “This is more than a collections business; while recovery of debts is a key part of it, to do so sustainably and ethically at scale is what we stand for. We are proud of the high standards to which we hold our collection teams, and the trust gained by our financial partners, to ultimately help promote financial health and solve consumer indebtedness for the two billion population in Southeast and South Asia.”

Point Hope is regulated by the Monetary Authority of Singapore

View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005038/en/


Guan Zhen Tan

Distribute your news release with us

  • Print

    unique advertising solution

    Our media lists include news desks at all leading Thai and English-language dailies.

  • Radio & TV

    reliable platform

    We deliver your news to leading Thai radio stations and TV channels.

  • Internet Sites

    cloud computing

    All releases are submitted to Internet news sites, including several with guaranteed pickup.

Our Self-Serve News Release Couldn't Be Simpler

Our streamlined online process makes it simple and fast to submit your news to the Thai media. Once registered, just enter or copy your text into our submission form and you'll see an instant preview with our fee based on the word count, translation, and any attached image. To confirm submission, hit Enter to be taken to our payment processor. Once payment is approved, your release passes automatically to our news desk for translation and dissemination by our skilled and experienced team. You'll be kept informed at each step of the process.

Do NOT follow this link or you will be banned from the site!