Blue Mountain Bridge Capital seeks $250m for new Asia-focused fund

Bloomberg has reported that Blue Mountain Bridge Capital is seeking to raise $250 million for a fund directed at making loans with a tenure of one-to-three years to financially challenged borrowers, including Chinese property companies that have recently struggled to secure loans from traditional banks.

Started in August 2019 by Jenny Sun, a former trader at Goldman Sachs Principal Strategies and a co-founder of Azentus Capital Management, Blue Mountain Bridge Capital is a Hong Kong–based private credit firm that invests opportunistically across the Asia Pacific region while seeking to conservatively underwrite jurisdictional risk.

Looking to use trophy assets, such as real estate, receivables or private jets, as collateral for its senior secured lending, Blue Mountain Bridge Capital will only consider borrowers whose assets are worth more than the loans they are asking for.Half of the fund’s investment will be directed toward Hong Kong borrowers, while the rest wi