Assets Under Management AUM

Yes Bank to start an asset reconstruction company; launches a call for tenders to investors

Yes Bank offered to set up an Asset Reconstruction Company (ARC) and invited potential investors to join the company as a lead investor.

The potential investor must have strong financial standing and must have substantial experience in distressed assets, said Ernst & Young (EY) in an expression of interest (EOI) issued on behalf of Yes Bank.

“The potential investor would be the main partner / sponsor of ARC, with the bank as another important partner / sponsor, to carry out the asset reconstruction activities,” according to the EOI.

EY is Yes Bank’s process advisor for the ARC Float.

The bank said interested investors or their sponsors should have a minimum asset under management (AUM) and deployed fund, globally, of at least $ 5 billion (over Rs 37,186 crore) in the bank. during the previous closed financial year.

Interested investors can submit their EOIs before 5 p.m. on August 31, 2021, by sending an email to [email protected]

Foreign Institutional Investors, Foreign Portfolio Investors, Private Equity, Venture Capital Funds, FIIs, NBFCs, Asset Management Companies, Banks and ARCs can participate as a Main Sponsor of the asset reconstruction company offered by Yes Bank.

Posted on: Wednesday August 11, 2021 10:22 PM IST

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