BAHRAIN: US hedge fund Davidson Kempner Capital Management has emerged as a creditor on a committee restructuring US$1.1 billion-worth of debt at Islamic private equity firm Arcapita Bank.
The presence of the US firm is expected to put pressure on Arcapita to reach a debt deal rather than just extending the maturity of its obligations.
Other members of the creditor committee reportedly comprise Barclays, CIMB, Standard Bank Group and The Royal Bank of Scotland (RBS). RBS is chairing the group, which is also being advised by PwC and Clifford Chance; while financial advisory firms Rothschild, KPMG and Linklaters are advising Arcapita.