Yes

In addition to Chinese private equity funds, foreign-funded institutions are also actively entering China's non-performing asset market. Institutions including KKR, Oaktree Capital Management, Clearwater Capital Partners and other institutions plan to enter China's distressed debt market.

Chinese companies invested by Clearwater have processed US$5.7 billion of domestic senior secured bonds. KKR, the world's second-largest private equity firm, has formed a partnership with state-owned bad debt management company China Orient Asset Management. KKR will focus on investment opportunities in the real estate sector.