Eight Capital and Emso acquired Ambit Flowers Asset Reconstruction Co from JC Flowers.

Eight Capital, a distressed and special situations investment manager, and Emso, a London and New York based emerging markets fixed income asset manager, acquired Ambit Flowers Asset Reconstruction Co, an asset reconstruction company, from JC Flowers, a leading private investment firm. Financial terms were not disclosed. "I am excited to partner with JC Flowers and access the firm's specialized knowledge and deep relationships in the financial services industry across the globe. JC Flowers has an established past track record of turning around troubled financials firms with large pools of NPLs which we expect will translate into a substantial advantage for our business," said Ravi Chachra, Chairman of Eight Capital. "In addition, Emso will bring its vast experience of investing in emerging markets across geographies and sectors to strengthen the partnership."