9 Basil teams up with Ares SSG strengthening its position as the largest independent AMC in Thailand
published : 25 Jun 2021 at 10:17
Setting Ares SSG on track with mega 2022 IPO plan
9 Basil, leading Southeast Asian Private Equity Platform, announced on 24 June 2021, that it has entered a partnership with Ares SSG strengthening its position in the market and now Thailand’s largest independent (non-bank owned, and non-government owned) AMC and distressed debt collection business. The partnership brings the experienced industry leader and strategic investor in many companies’ success together, aiming at a one-year plan to bring the company to IPO.
Mr. Schwin Chiaravanont, Co-Founder and Managing Partner of Blueprint Forest and 9 Basil, said, “Initially, 9 Basil wanted to start its own AMC as we have identified and pursued opportunities in the distressed real estate developer sector that has been driven by speculative buying financed by an undisciplined banking sector in Thailand. The market itself represents a trillion baht in investment opportunities. When we look into the industry to find its leader, Alpha is the most efficient operator financially in the AMC space.”
In 2019, 9 Basil and Ares SSG, Asia-Pacific asset management firm under Ares Management –one of the largest distressed fund managers in the world – have spotted an opportunity of joint investment and have finally partnered together when 9 Basil bought into Alpha Capital, an AMC licensed business to buy, manage and service, and collect distressed debt.
Alpha’s senior management team has served the company with an average of 19 years of experience and weathered through the Asian Financial Crisis, as its system has continuously improved over the years.
Dr. Kris Panijpan, Co-Founder and Managing Partner of 9 Basil, said, “We are very opportunistic. If a distressed business or business owned by a distressed owner is on sale and it is something that we believe is priced with a significant margin of safety and falls well within our circle of competence, we will pursue these opportunities, too.”
Owning the platform, the return of the investment in NPL portfolios is well structured and calculated. And with this, the company is committed to allocating more capital for future growth. Given the size of the NPL market in Thailand, this is a multi-billion dollar opportunity in the near future.
9 Basil is focused on private markets and boasts an active portfolio management strategy to derive synergies between the managing partners, limited partners, and Blueprint Forest’s wider network.