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Our Funds

Special Situation Fund (SSF)

 

 

Investment Strategy Overview

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EurAsiaX’s Special Situation Fund (SSF) is a high-conviction, event-driven investment strategy designed to capitalize on unique, non-recurring opportunities across global markets. The fund will target asymmetric risk-reward scenarios created by corporate events, regulatory changes, distressed cycles, and structural market inefficiencies.

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Core Investment Pillars

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1. Distressed & Turnaround Situations

Debt restructuring, bankruptcy reorganizations, and forced asset sales

Focus on mispriced corporate bonds, bank loans, and post-reorganization equity

Example: Opportunistic buying of senior secured debt in over-leveraged Asian conglomerates

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2. Corporate Events & Arbitrage

Merger arbitrage (risk-adjusted spreads in announced deals)

Spin-offs, divestitures, and carve-outs with undervalued separation premiums

Example: Pre-announcement positioning in European conglomerate breakups

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3. Regulatory & Policy Shifts

Beneficiaries of new legislation (e.g., green energy subsidies, tariff changes)

Companies facing oversold conditions due to regulatory overhangs

Example: Post-sanction recovery plays in emerging markets

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4. Convertible & Hybrid Instruments

Convertible bonds with favorable volatility skew

Structured equity-linked notes in stressed sectors

Example: Discounted convertible debt of tech firms with strong balance sheets

Target Opportunity Sourcing

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1. Geographic Focus

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Region

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Asia

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Europe

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Americas

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Emerging Markets

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Key Opportunity Areas

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Chinese property restructuring, Indian NPL resolutions

Energy transition dislocations, Brexit-related corporate shifts

Chapter 11 reorganizations, SPAC liquidations

Sovereign debt restructurings, currency crisis beneficiaries

 

2. Instrument Mix

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Asset Class

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Distressed Debt

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Event Driven Equity

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Convertibles

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Opportunistic Credits

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Weighting

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30 - 40%

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25 - 35%

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15 - 25%

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10 - 20%

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Rationale

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Senior secured positions with collateral coverage

Merger arb, stub trades, post-reorg shares

Upside participation with downside protection

High-yield bonds, litigation claims, trade claims

 

Risk Management Framework

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1. Portfolio Construction Rules

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  • Single Position Limits:

    • Max 8% in any single credit

    • Max 5% in any single equity

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  • Liquidity Overlay:

    • 15% portfolio in weekly-liquid instruments

    • Redemption gate provisions (>20% NAV decline triggers 6-month lock)

 

2. Hedging Strategy

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  • Tail Risk Protection:

    • VIX futures during market stress

    • CDS on systemic sector exposures

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  • FX Hedging:

    • Minimum 50% non-THB exposure hedged

Return Profile & Competitive Edge

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1. Target Performance

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Scenario

Base Class

Stress Class

Annualized Return

18 - 22%

-10 to +5%

Volatility

12 - 15%

25%+

 

2. EurAsiaX Differentiators

 

Local Expertise, Global Execution

  • On-the-ground restructuring teams in key markets (Bangkok, Singapore, London)

  • Partnerships with legal advisors (Clifford Chance, Rajah & Tann)

 

Multi-Asset Flexibility

  • Ability to pivot across capital structures (senior debt → equity)

  • Hybrid instrument expertise for optimal risk/reward

 

Proprietary Sourcing

  • Exclusive deal flow from regional NPL platforms

  • Early access to regulatory change intelligence

 

Investor Profile

  • Target LP Base:

    • Family offices (40%)

    • Hedge fund-of-funds (30%)

    • Institutional special situations allocators (30%)

  • Lock-Up Period: 2+1 years (soft lock with quarterly redemptions thereafter)

  • Minimum Commitment: $5M

Global Property Fund (GPF)

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Fund Strategy Overview

 

EurAsiaX’s Global Property Fund (GPF) is a high-yield, diversified real estate investment strategy targeting both greenfield (development) and brownfield (value-add/repositioning) opportunities across key global markets. The fund seeks to capitalize on structural demand shifts, urbanization trends, and inefficiencies in property markets to deliver 15-20% net IRRs through a balanced mix of income, capital appreciation, and development profits.

Core Investment Pillars

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1. Greenfield Development

  • Strategic land acquisitions in high-growth urban corridors

  • Residential, mixed-use, and logistics developments with pre-leasing upside

  • Example: Build-to-rent (BTR) housing in secondary Asian cities with >5% rental yield

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2. Brownfield Value-Add

  • Acquisition of underperforming or mismanaged assets

  • Repositioning through renovations, tenant upgrades, or operational improvements

  • Example: Office-to-residential conversions in oversupplied U.S. markets

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3. Niche Sectors with Tailwinds

  • Data centers, cold storage, and healthcare real estate

  • ESG-compliant assets (green-certified buildings, renewable energy sites)

  • Example: Solar-powered industrial parks in Southeast Asia

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4. Distressed & Opportunistic Plays

  • Non-performing loan (NPL) portfolios with underlying real estate collateral

  • Recapitalization of stalled projects with viable demand

  • Example: Discounted hotel acquisitions in European tourist hubs post-pandemic

Target Market Allocation

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1. Geographic Focus

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Region

Asia Pacific

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Europe

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Americas

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Middle East

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Greenfield Focus

India industrial parks, Vietnam residential

German logistics, UK BTR

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US Sunbelt multifamily

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Saudi giga-projects

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Brownfield Focus

Japan hospitality, Australian retail

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Spanish coastal hotels, Italian offices

Canadian suburban offices

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Dubai commercial repositioning

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2. Asset Class Mix

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Sector

Residential

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Logistics / Industrial​

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Hospitality

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Alternative (Data Centers, Healthcare)

Target Allocation

35 - 45%

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25 - 35%

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10 - 15%

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10 - 15%

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Investment Horizon

3-5 years (development), 5-7 years (core+)

3-5 years

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5+ years (value-add)

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5-7 years

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Risk-Adjusted Return Framework

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1. Development Risk Mitigation

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  • Pre-Sales/Pre-Leasing: Minimum 50% pre-leased before construction launch

  • Joint Ventures: Partnering with local developers to reduce execution risk

  • Phased Capital Deployment: Escrow-based milestone funding

2. Value-Add Levers

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Strategy

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Tenant repositioning

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Operational efficiency

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Zoning / entitlement changes

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Target IRR Boost

+200-400 bps

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+150-300 bps

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+500-800 bps

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3. Hedging & Downside Protection

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  • FX Hedging: 75% of non-THB exposure hedged

  • Debt Structure: Non-recourse loans with interest rate caps

  • Exit Timing: Built-in flexibility (hold/sell/refinance options)

 

Competitive Advantages

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Local Market Expertise

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  • On-the-ground teams in 8 key markets (Bangkok, Singapore, Mumbai, Berlin, etc.)

  • Partnerships with regional operators (e.g., LOGOS for Asia logistics)

 

Flexible Capital Deployment

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  • Ability to pivot between development (greenfield) and repositioning (brownfield)

  • Mezzanine/debt financing for distressed opportunities

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ESG Integration

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  • Minimum 60% green-certified assets by gross asset value (GRESB-aligned)

  • Carbon-neutral development pledge by 2030

 

Investor Profile

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  • Target LPs: Sovereign wealth funds, pension funds, family offices

  • Fund Structure: Closed-end, 7-year term (2-year extension option)

  • Hurdle Rate: 8% preferred return, 15% carry above

Thailand Wellness Tourism Property Fund (TWPF)

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Investment Opportunity Overview

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EurAsiaX’s Thailand Wellness Tourism Property Fund (TWPF) is a specialized real estate investment vehicle targeting high-growth wellness, medical tourism, and senior-living properties across Thailand’s key tourist destinations. With Thailand already attracting 35+ million annual visitors (pre-pandemic levels) and a global aging population driving demand for affordable, high-quality wellness retreats, this fund will capitalize on the convergence of three powerful trends:

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  1. Medical & Wellness Tourism Boom – Thailand is ranked among the top 5 global destinations for medical tourism, with $10B+ annual revenue from health-focused visitors.

  2. Silver Economy Growth – By 2030, 25% of East Asia’s population will be over 60, creating massive demand for retirement-friendly properties.

  3. Post-COVID Travel Rebound – Thailand’s new long-term visa programs (e.g., 10-year retirement visas, digital nomad permits) are accelerating demand for extended-stay wellness resorts.

 

Target Investment Segments

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1. Wellness & Medical Tourism Resorts

  • Luxury Holistic Retreats (Yoga, detox, anti-aging clinics)

    • Example: Acquisition of underutilized beachfront hotels in Phuket/Krabi for conversion into premium wellness resorts.

  • Medical + Tourism Hybrids (Dental, cosmetic surgery recovery villas)

    • Example: Joint ventures with Bangkok Hospital Group for patient recovery residences in Hua Hin.

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2. Senior-Living & Retirement Communities

  • Active Adult Housing (55+ communities with healthcare access)

    • Example: Greenfield development in Chiang Mai targeting Japanese/EU retirees.

  • Assisted-Living Lite (Serviced apartments with on-call nursing)

    • Example: Repositioning low-occupancy Pattaya condos into senior-friendly rentals.

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3. Niche Wellness-Integrated Assets

  • Hot Springs & Forest Therapy Resorts (Leveraging Thailand’s natural assets)

  • Fitness & Longevity Campuses (Targeting high-net-worth longevity seekers)

Target Market Allocation

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1. Geographic Focus

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Location​​

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Bangkok

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Phuket

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Chiang Mai

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Hua Hin

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Koh Samui

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Key Advantage​​

World-class hospitals, int’l accessibility

Premium tourism infrastructure

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Low cost of living, serene setting

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Proximity to Bangkok, royal heritage

High-end tourist demand

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Sample Asset Type​

Medical recovery suites near Bumrungrad Hospital

Luxury wellness villas (Kamala Beach)

Active adult communities

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Hybrid medical-tourism resorts

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Detox & yoga retreats

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Investment Strategy

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​1. Acquisition & Development Approach

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  • Brownfield Opportunities (60% of capital):

    • Acquiring distressed or mismanaged hotels for conversion into wellness-focused properties.

    • Example: Converting a 100-room Patong Beach hotel into a post-operative recovery center.

  • Greenfield Development (40% of capital):

    • Building purpose-designed wellness communities in emerging zones (e.g., Khao Yai, Pai).

 

2. Value-Creation Levers

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Strategy

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Adding wellness services (spa, nutrition, PT)

Medical tourism partnerships (hospitals, insurers)​

Government incentives (BOI promotions, SPA visas)

Target IRR Boost

+5–8% NOI

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+10–15% occupancy

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+3–5% yield

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3. Exit Options

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  • Strategic Sale: To regional healthcare operators or hospitality groups.

  • REIT Conversion: Thailand’s PROPERTY FUND structure allows tax-efficient exits.

  • Long-Term Hold: Core assets with 8–12% stabilized yields.

 

Risk Mitigation

 

Pre-Leasing Model – Partnering with wellness chains (e.g., Kamalaya, Chiva-Som) to secure anchor tenants pre-development.
Demand Resilience – Medical/wellness tourism is less cyclical than leisure travel.
Currency Hedge – 70% of revenue in USD/EUR (medical tourism is dollarized).

 

Competitive Advantages

 

Partnerships with Leading Hospitals (Bumrungrad, Bangkok Hospital)
Wellness Operator Alliances (Integrating global brands like Aman, Six Senses)
Government Support – Thailand’s 5-Year Medical Hub Strategy (2024–2029) offers tax breaks and fast-tracked permits.

 

Investor Profile

  • Target Returns: 18–22% gross IRR (12–15% net)

  • Fund Term: 5+2 years

  • Minimum Investment: 2M(institutional),2M(institutional),500k (accredited individuals)

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Why Invest Now?

  • Post-COVID Rebound: Thailand’s tourism recovery is at only 70% of pre-pandemic levels – early-mover advantage.

  • Aging Population Wave: By 2030, 1 in 4 visitors to Thailand will be 60+ (vs. 1 in 6 today).

  • Limited Institutional Competition: Most Thai property funds focus on retail/office – wellness is underserved.

 

This fund offers a first-mover opportunity in Asia’s fastest-growing wellness real estate market, backed by Thailand’s unrivaled tourism infrastructure and EurAsiaX’s local execution expertise.

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