Yes Bank Limited (NSEI:YESBANK) has received expressions of interest from a dozen investors for setting up an asset reconstruction company with the private sector lender as the minority partner, two people aware of the development said. Some of the private equity firms who have shown interest include Brookfield Asset Management Inc. (TSX:BAM.A), Ares SSG, Oaktree Capital Management, L.P., J.C. Flowers & Co. LLC, Vardhe Capital, CarVal Investors L.P., Avenue Asia Group, Bain Capital's India Resurgent Fund, Apollo Global Management, Inc. (NYSE:APO), TRG Management LP (Rohatyn Group) and Silver Point Capital L.P., the people said on condition of anonymity.

The bank will now shortlist potential investors after discussions with the interested PE firms, one of the two people said, adding that the shortlisted investors will then be asked to submit initial bids. "The bank will look at the compatibility of the partnership. It hopes to complete the entire exercise by the end of October," the person said.

An email sent to a Yes Bank spokesperson went unanswered at the time of going to press.