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Report: Bain Capital to buy $200M portfolio of RE-related loans in China

Bain Capital Credit LP agreed to purchase a $200 million portfolio of nonperforming loans secured against commercial retail assets, hotels and industrial assets, Reuters reported, citing an unnamed source familiar with the transaction.

The deal with a Chinese asset management company reflects a possible price tag of at least $10 million based on the portfolio's value in previous transactions, the report noted.

The investment, in line with Bain's special Asian situations strategy, marks its first purchase in China.

The source identified distressed debt manager China Huarong Asset Management Co. Ltd. as the former owner of the portfolio in the May 28 report.