Eight Capital

Eight Distressed Investment Trust I is a SEBI-registered Category II Alternative Investment Fund (reg. IN/AIF2/18-19/0607), registered in October 2018 and managed by Eight Capital Advisory Services Private Limited — the Mumbai-based investment management entity of the Eight Capital Group, founded in 2005 by Ravi Chachra and Vikram Chachra. Eight Capital is one of India's pioneers in distressed debt and special situations investing, having launched its first fund in 2006 with anchor capital from J.P. Morgan. The group has invested in 14 medium-sized manufacturing companies over its history, restructuring their NPLs under various RBI schemes including Corporate Debt Restructuring (CDR), Strategic Debt Restructuring (SDR), and the Insolvency & Bankruptcy Code (IBC). The investment strategy employs a Debtor-in-Possession (DIP) control approach — providing high-coupon super-priority loans coupled with equity infusion to turn around financially distressed but operationally viable companies, focusing on industrial and cyclical sectors. In 2019, Eight Capital partnered with Emso Asset Management (London) and J.C. Flowers & Co. to acquire a stake in Ambit Flowers Asset Reconstruction Company, subsequently renamed J.C. Flowers Asset Reconstruction Company (JCFARC), to purchase NPLs from Indian banks. Ravi Chachra has been an adviser to the authors of India's Insolvency & Bankruptcy Code and to members of the Bankruptcy Law Reform Committee. The fund operates from 702, Lodha Supremus, Lower Parel, Mumbai, and maintains a US presence in Norwalk, Connecticut.