Ex-Goldman Manager Raises $245 Million for China Property Debt

(Bloomberg) — Jason Brown, a former Goldman Sachs Group Inc. executive, raised an initial $245 million for a new fund that will invest in debt of China’s beleaguered property industry.

Brown’s Hong Kong-based Arkkan Capital completed a first close for the Arkkan China Real Estate Fund and plans to raise more money in the first half of next year, it said in an emailed statement dated Wednesday. The fund will target stressed and distressed assets including loans and bonds. Brown is a former special situations group head at Goldman.