SSG Capital and Acre completed the acquisition of Altico Capital for $380m.

SSG Capital, a Hong Kong-based asset management company, and Assets Care and Reconstruction Enterprise, an assets reconstruction company, completed the acquisition of Altico Capital, a real estate lender, for $380m. “Our acquisition of Altico reflects Ares SSG’s strong commitment to supporting widespread efforts by policymakers, investors, and industry to alleviate the impact of non-performing assets on India’s banking and financial services sector. This investment also highlights our confidence in the prospects for India and the steps being taken to spur growth that has over the past year been held back by the global pandemic,” Shyam Maheshwari, SSG Partner.