Distressed debt giant Oaktree Capital Management is looking to do more joint ventures in China and the rest of Asia, in anticipation of more defaults in the country and the knock-on effects of its slowing growth on the surrounding region.

Speaking to reporters at a briefing in Hong Kong on November 5, Howard Marks, co-chairman of the $100 billion distressed investor, said Oaktree is looking to form similar partnerships in China and the rest of Asia to those with China Cinda Asset Management, the debt clearing firm it partnered with in November 2014 to hunt for distressed debt, and Shoreline Capital Management, the Chinese distressed debt investor it teamed up with in July to invest in smaller Chinese distressed loans.