Hedge Funds

Argyle Street pioneers relationship-driven investing in Asian distressed space

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V-Nee Yeh, chairman of Argyle Street Management, explains his mantra for relationships-based distressed asset management in the region

When V-Nee Yeh, chairman of the Hong Kong-based, $660 million distressed-focused shop Argyle Street Management, launched the firm in 2002, he knew that distressed asset management, in its classic sense, did not exist in Asia. This stemmed from the difference in capital structure complexity of companies and regulatory regimes between developed and undeveloped markets, something that has not really changed even almost a decade later.

In the Asian landscape dominated by family-controlled companies, deep relationships and focus on distressed vendors rather than on distressed assets is what provides the edge in terms of real investment opportunities—something Yeh and