Draft:ShoreVest Partners
The subject is contrary to the purpose of Wikipedia. Rejected by Athanelar 13 days ago. Last edited by Athanelar 13 days ago. |  |
| Sulfurboy 14 days ago. |  |
Comment: In accordance with the Wikimedia Foundation’s Terms of Use, I disclose that I provide compensated services to ShoreVest Partners, the subject and intended beneficiary of this draft.
- Comment: See WP:ORGTRIV Sulfurboy (talk) 20:02, 17 July 2026 (UTC)
- Comment: In accordance with the Wikimedia Foundation’s Terms of Use, I disclose that I provide compensated services to ShoreVest Partners, the subject and intended beneficiary of this draft.
 | |
Native name | 新岸资本 |
|---|---|
| Type | Private |
| Industry | Investment management |
| Founded | 2016 |
| Founder | Benjamin Fanger |
| Headquarters | , China |
| Services | |
| Website | shorevest |
ShoreVest Partners (Chinese: 新岸资本)[3] is an investment manager specializing in private credit and distressed debt in China, including investments in non-performing loans.[4][5] The firm was established in 2016 by Benjamin Fanger and several former Shoreline Capital executives.[6][7]
History
[edit]Before establishing ShoreVest, Fanger worked on distressed-asset litigation in China at O'Melveny & Myers and later attended the University of Chicago. There he met Zhang Xiaolin, with whom he co-founded Shoreline Capital in 2004.[8]
21st Century Business Herald described Shoreline as one of the earlier foreign investment firms involved in the Chinese non-performing-loan market. The firm acquired its first distressed-loan portfolio in Shenzhen and subsequently established a series of US-dollar funds.[9]
In June 2016, Fanger and Zhang signed a separation agreement under which Fanger retained an ownership interest in Shoreline but transferred responsibility for its daily management and business decisions.[9] Later that year, Fanger and several former Shoreline investment, legal and compliance executives established ShoreVest.[6][7]
In 2017, ShoreVest began raising its first investment fund, initially targeting US$750 million.[4][10] Bloomberg Markets reported in 2020 that Fanger and his colleagues had purchased more than 15,000 Chinese non-performing loans since beginning their work in the market in 2004.[5]
Market context
[edit]In 2017, the South China Morning Post reported that non-performing loans held by Chinese lenders had doubled to 1.5 trillion yuan during the preceding two years. ShoreVest estimated that the wider Chinese distressed-asset market, including accounts receivable and other troubled credit, amounted to approximately US$3 trillion.[11]
Reuters Breakingviews reported in 2024 that Chinese banks often transferred troubled loans to largely state-backed asset-management companies, which in turn sold some of them to specialist investment funds such as ShoreVest. The report said that potential recoveries depended substantially on the value and continuing cash generation of the underlying collateral.[12]
Investment approach
[edit]The Financial Times and AVCJ reported in 2017 that ShoreVest's proposed investment strategy included Chinese non-performing-loan portfolios, distressed special situations, structured credit and private-credit investments.[4][10]
Underwriting
[edit]The South China Morning Post reported that ShoreVest conducted background checks on borrowers and generally sought hard assets as collateral when considering rescue-financing and distressed-credit opportunities.[13]
Bloomberg Markets reported that ShoreVest evaluated distressed-credit investments at the level of individual loans. Its analysis included the value and enforceability of collateral, the borrower's relationship with government bodies, local enforcement conditions and the possible social consequences of a recovery process.[5]
Recoveries and enforcement
[edit]Bloomberg Markets reported that ShoreVest treated the potential for social disruption as an investment risk, including situations in which enforcement could displace residents, cause widespread layoffs or impose losses on individual retail investors.[5]
Pensions & Investments reported that enforcement and recoveries could be delayed where the disposal of collateral affected employment, unfinished housing developments or broader social stability. The publication described local knowledge and an understanding of political and social considerations as important elements of distressed-debt investing in China.[14]
Later developments
[edit]In 2017, ShoreVest acted as master servicer for Bain Capital Credit's acquisition of a Chinese real-estate-related non-performing-loan portfolio with approximately US$200 million in principal.[15]
In 2020, the South China Morning Post reported that ShoreVest was discussing a possible application for a provincial asset-management-company license with government officials. The newspaper reported that such a license would allow the firm to acquire non-performing loans directly from Chinese banks rather than through local intermediaries.[13]
In October 2023, DealStreetAsia reported that the International Finance Corporation had proposed investing up to US$150 million in a ShoreVest-managed co-investment vehicle.[16]
The IFC disclosure described a vehicle with total capitalization of up to US$300 million. It was intended to invest in and resolve Chinese non-performing-loan portfolios, with a primary focus on portfolios of loans to small and medium-sized enterprises and portfolios in frontier regions. The project was listed as pending approval.[1]
In 2024, ShoreVest established a subsidiary in Shanghai's Lin-gang Special Area. The Lin-gang Special Area Administration reported that the subsidiary had received approval to establish a qualified foreign limited partner fund with a quota of approximately US$80 million.[17]
References
[edit]- ^ a b "DARP Shorevest". International Finance Corporation. 12 October 2023. Retrieved 18 July 2026.
- ^ "ShoreVest Partners". PERE. Retrieved 18 July 2026.
- ^ 新岸资本落子上海 [ShoreVest establishes Shanghai presence]. 投资界 (in Chinese (China)). 11 October 2024. Retrieved 18 July 2026.
- ^ a b c Weinland, Don (7 June 2017). "ShoreVest Capital taps into growing global interest in China NPLs". Financial Times.
- ^ a b c d Wee, Denise; Choong Wilkins, Rebecca (6 April 2020). "Welcome to the $1.5 Trillion Minefield of Defaulted Chinese Debt". Bloomberg Markets.
- ^ a b Burroughs, Tim (11 November 2016). "Ex-Shoreline executives reform as ShoreVest, target China NPLs". AVCJ.
- ^ a b Ou, Christie (15 November 2016). "Shoreline founder launches new distressed debt firm". Private Debt Investor. Retrieved 18 July 2026.
- ^ "Doing your homework pays in Chinese distressed debt". AsianInvestor. 10 August 2008. Retrieved 18 July 2026.
- ^ a b 辛继召 (24 June 2016). 不良处置“大鳄”海岸投资“触礁”，风来了合伙人却走了. 21世纪经济报道 (in Chinese (China)). Retrieved 18 July 2026.
- ^ a b Burroughs, Tim (9 June 2017). "ShoreVest targets $750m for China distress fund". AVCJ.
- ^ "Rising bad debts in China a boon for some investors". South China Morning Post. 28 March 2017. Retrieved 18 July 2026.
- ^ Mak, Robyn (11 September 2024). "China's banks have a nasty case of indigestion". Reuters Breakingviews. Retrieved 18 July 2026.
- ^ a b Tudor-Ackroyd, Alison (28 April 2020). "'Opportunity of a lifetime' for distress investors as companies from HNA to China's LVMH flounder and bad debts balloon". South China Morning Post. Retrieved 18 July 2026.
- ^ Appell, Douglas (18 October 2021). "Few foreign investors positioned for China NPLs". Pensions & Investments. Retrieved 18 July 2026.
- ^ Barreto, Elzio (29 May 2017). "Bain makes first foray into China NPLs with $200 mln portfolio purchase". Reuters.
- ^ Mosqueda, Mars W. Jr. (16 October 2023). "IFC proposes $150m investment in ShoreVest's SPV for distressed assets in China". DealStreetAsia. Retrieved 18 July 2026.
- ^ "Lin-gang Special Area works with ShoreVest Partners to create equity investment cluster". Lin-gang Special Area Administration of Shanghai. 29 November 2024. Retrieved 18 July 2026.
- provide significant coverage: discuss the subject in detail, excluding routine coverage like product launches, staff appointments, or financial reports and listings in databases or listicles;
- are reliable: from reputable outlets with editorial oversight;
- are independent: not connected to the subject, such as press releases, the subject's own website, or sponsored content.
Please add references that meet all three of these criteria. If none exist, the subject is not yet suitable for Wikipedia.