Pepper India Resolution

Funds managed

Fund nameAsset class Registration Number
Pepper India Distressed Assets Fund Debt – distressedIN/AIF2/21-22/0886

About

Pepper India Resolution Private Limited (PIR) was set up as a joint venture between global diversified financial services specialists Pepper Group and ABK Resolution. The Pepper Group specializes in Lending, Asset Servicing and Advisory Services across various geographies. The focus of PIR in India is to offer end to end asset servicing or tailor-made solutions.

Pepper India Resolution is a local distressed asset management and resolution specialist. It was established to deliver distressed asset management and resolution in India, specializing in Non-Performing Loans (NPLs), advisory and third-party loan servicing.  They act as servicer of loan portfolios operated by other lenders and also process and assess information when investors invest funds via them.

Key staff

Mike Culhane – Group chief executive officer and director – Mike founded Pepper in 2000.Extensive debt and equity capital markets experience, with a particular focus on structured finance, securitization, portfolio management and venture capital. Responsible for implementing the company’s strategic direction and driving the organic growth initiatives in each of Pepper’s consumer lending, mortgage servicing and advisory businesses, across Australia, Asia and Europe. Holds a Bachelor of Economics in International Relations from the London School of Economics.

Ashokan Arumugam – executive director and CEO of Pepper India joined Pepper in 2019 as Executive Director & CEO of Pepper India. Has over 35 years of experience in various roles including Treasury, Corp. Banking, Compliance, Lending, and Asset Reconstruction in all of India. Has held senior management positions in leading public sector Banks and as a CEO of an ARC specializing in retail NPL resolutions.

Juan Gonzalez- Non-executive Director /Group Chief Financial Officer, Principal Investments Group – Has been with Pepper for over 8 years focused on business development and investments. Currently based in Hong Kong; previous locations with Pepper include London and Sydney. Has over 15 years of investment banking and financial services experience in the USA, UK and Australia. Holds an MBA from Yale University and BA in Economics from Grinnell College

Ravi Manchanda- Non-Executive Director & Co-Head Principal Investments Asia-Asean & India Joined Pepper in 2018, as Co-Head Principal Investments for Asia. Has over 37 years of experience in various roles including Audit, CFO, COO, CEO of major corporations in Europe, USA, Hong Kong and Malaysia. Over 10 years financial services experience as MD at Deutsche Bank, Standard Chartered and CEO at Westpac Singapore.

Services provided by Pepper India

Non-Performing Loan (NPL) Management and Collection Services

 Takeover of NPLs, including housing of documents, and collections.

Trained and certified agents managing collections.

100% visibility with continuous data analysis.

Specific emphasis on retail and MSME segments.

Non-performing debt specialization service.

Risk is managed through an organized debt collection process.

Master Servicing

Oversight on local servicers.

Performance review and reporting.

Sub-contracting and engaging with third party providers.

Data security and data protection.

Back-up Servicing

Set up data mapping processes.

Annual data mapping reviews.

Quarterly on-site operational reviews.

Results reporting on operational reviews.

Transaction Advisory Services

Sourcing of portfolios and potential investors in distressed retail segments.

Due diligence processes.

On-boarding of accounts and housing of documents.

Collection and performance review of acquired portfolios.

No media or investment philosophy found

Prepared by Disha Dorugade, Sep 2021

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