Yes Bank Limited (NSEI:YESBANK) is looking to partner with investors to set up an asset reconstruction company and has appointed EY as its process advisor, according to a public notice on August 11, 2021. “EY invites expressions of interest from interested investors with strong financial capability and possessing substantial experience in the distressed asset space, with whom the bank will partner in relation to creation of an asset reconstruction company (ARC)," the notice said. The prospective investor would be the lead partner or sponsor of the ARC and the bank will act as the other significant partner or sponsor. Potential investors, including foreign institutional investors, foreign portfolio investors, private equity, venture capital funds, domestic and foreign investment institutions, asset management entities, among others should have a minimum asset under management and funds deployed, globally of at least $5 billion, it said. They should also have demonstrated ability to commit funds for investment in Indian companies or assets of about $0.5 billion. That apart, potential investors should have global experience of dealing in distressed asset space and established track record of turnaround of stressed assets and meet the 'fit and proper' criteria as per the Reserve Bank of India (RBI) guidelines.