Alternative asset manager Investcorp is remaining focused on its expansion plans in China even as the crisis at Chinese developer Evergrande continues to distress the world’s biggest economy.

Bahrain-based Investcorp said it expects Evergrande crisis to extend new opportunities for the firm to propel its expansion plans in Asia, Bloomberg reported.

Investcorp executive chairman Mohammed Alardhi considers the ongoing problems at the debt-ladden Chinese developer temporary.

Furthermore, Alardhi anticipates the effect of the crisis to be limited within Asia.

He also said that the crisis could even have ‘a calming effect on the prices of real estate that are really ballooning in parts of China’.

Investcorp has no ‘direct investment’ in Chinese real estate space, noted Alardhi.

The alternative asset manager maintains its presence in China through an office in Beijing. Last year, the firm launched a health-care investment platform in the country.

According to Alardhi, the firm will continue its focus on China’s technology, health-care and food sectors.

“We’re there for the opportunities, we’re there for the long term,” he said.

Investcorp, which is looking to expand across Asia, signed 11 new private equity investment deals this year across India, China and southeast Asia.

The firm’s assets under management in the region jumped 17% to $1.1bn for the financial year ending June 30.

Earlier this year, Bloomberg reported that the firm was holding acquisition talks with several credit firms to expand its US footprint as part of its strategy to expand its collateralised loan obligation business.

Meanwhile, China and other global financial markets are preparing for the possible collapse of Evergrande, which is reeling under $300bn debt.

Last week, UBS CEO Ralph Hamers told Bloomberg that the company’s exposure to Evergrande is ‘immaterial.’

UBS’ rival Credit Suisse also denied direct exposure to Evergrande.