Ares SSG Capital completes acquisition of Indian financier Altico Capital

Hong Kong-based Ares SSG Capital on Thursday said it has completed acquisition of stressed real estate financier Altico Capital India Ltd. This buyout marks the first resolution of a defaulting non-banking finance company (NBFC) outside the country’s Insolvency and Bankruptcy Code (IBC) and represents Ares SSG’s single largest investment in India till date, it said in a press release.