BlackRock Cuts Value of Private Debt Fund by 19%, Waives Fee
A BlackRock private debt fund expects to mark down the net value of its assets 19% after a string of troubled loans weighed on results, marking the latest sign of pressure in the private credit market, Bloomberg reported.
The fund has struggled in part because of its exposure to e-commerce aggregators and troubled home improvement company Renovo Home Partners, which has filed for bankruptcy with plans to liquidate.
China Courts Step Up Enforcement, Punish Thousands for Defying Rulings
Chinese courts held 4,461 people criminally accountable in 2025 for refusing to comply with court verdicts, underscoring a sustained crackdown on dishonest conduct, China Daily reported, citing China’s top court.
While stepping up efforts to curb evasion and obstruction by those subject to enforcement, the Supreme People’s Court stressed that fully seizing debtors’ primary assets remains essential to ensuring court rulings are carried out.
Jollibee’s Highlands Coffee Is Said to Consider $400 Million IPO in Vietnam
Highlands Coffee is exploring an initial public offering in Vietnam to raise USD 300 million to USD 400 million, Bloomberg reported, citing people with knowledge of the matter. The company is working with a financial adviser and may add more banks.
Philippine fast-food operator Jollibee Foods, which plans to list its international business in the US, has a 60% stake in Highlands Coffee owner SuperFoods Group, having first invested in 2012. Highlands Coffee was founded in 1999 by Vietnamese-American businessman David Thai.
Singapore Court Imposes Freezing Order on Autobahn Group Companies, Directors
Two directors and five companies of the Autobahn Rent A Car group were served a freezing order by Singapore’s High Court on 9 January, as creditors allege fraud and the failure to disclose the location of vehicles under loans, Business Times reported.
Car distributors contend that forged documents were used to double finance car loans and almost 300 cars meant for repossession cannot be located, according to the news agency.