Credit & Special Situations
DAC is a leading alternative investment firm focused on credit and special situations in China. DAC specializes in single and multi-credit non-performing loans (NPLs), distressed real estate, distressed equity, credit enhancement products, high-yield loans, and other structured credits. Since its principals first entered China in 2001, we have managed and/or serviced approximately $750 million of distressed assets. DAC has been one of the most active foreign distressed firms in this market having represented more than 50,000 assets with a total original principal balance (OPB) of approximately 30 billion yuan.
DAC places great emphasis on our individuals and our ability to work effectively as a team. Our collective experience and skill sets allow us to be flexible and to take advantage of strategic opportunities. DAC believes that the combination of diligent analysis, meticulous risk control, targeted investment focus, and key relationships is the most effective way to invest in credit and special situations in China.
Gao Fei Consulting (高飞咨询)
DAC’s wholly-owned subsidiary in China, Gao Fei Consulting Services (Beijing) Co. Ltd., provides investment support for internal and third-party institutional investments. Through Gao Fei, DAC leverages its experience and relationships in local jurisdictions to provide efficient asset servicing solutions for DAC and foreign investors with Chinese counterparties. Gao Fei works to enforce creditors’ rights and return value to equity shareholders. We collect outstanding payments from Chinese companies of all sizes, from small state-owned enterprises to large multinational firms. Our knowledge of onshore and offshore legal structures has led to a successful track record with both secured and unsecured collections in China.
Gao Fei is the only foreign-owned, unlimited asset servicing platform to be granted a license by China’s Ministry of Commerce to operate throughout the PRC. Gao Fei has offices in Beijing, Guangzhou, Changchun, and Fuzhou, and its geographic reach covers 20 provinces – nearly 75% of China’s population.
The firm has more than 15 years of experience with capital recovery projects in China. As part of the two-step process, DAC first engages in thorough due diligence and analysis into the investment and the underlying target company. Armed with this knowledge, DAC then pursues the most effective methods to recover investment capital.
Risk Mitigation & Commercial Due Diligence
DAC’s presence in China places us in a unique position to assist foreign entities to better understand on-the-ground situations across the PRC. Through Gao Fei, we provide specialized information gathering capabilities, facilitated through key relationships with local banks and non-bank financial institutions, government agencies, courts, and asset servicers that yield highly detailed research. We work on tailored projects with our clients to expertly navigate China’s opaque business climate. Our services span comprehensive legal, financial, and market due diligence across a variety of industries.
With more than 15 years of experience, DAC has developed a comprehensive skill set to help clients evaluate investment opportunities in China. By following the same principles that guide DAC’s strategy, we provide customized portfolio advisory services. From conducting due diligence to monitoring investments to evaluating strategic alternatives, our team helps clients to maximize their investments in China. We work on bespoke projects with our clients to expertly navigate China’s opaque investment climate. DAC provides unmatched advisory services to foreign investors in an efficient and cost-effective manner.
Together with Gao Fei, DAC’s team has advised on alternative investments across 20 Chinese provinces, with a face value of more than $5 billion in invested capital.