US-based investment firm Avenue Capital is acquiring a 27 per cent stake in Asset Reconstruction Company (India) Ltd (ARCIL) from a clutch of six existing investors. Financial terms of the deal were not disclosed. ARCIL, which manages distressed asset worth Rs.12,000 crore, expects the deal to be completed in the next quarter. Avenue Capital primarily focuses on investing in distressed debt and other special situations investments in the United States, Europe and Asia.

(DealStreet Asia)