Keppel acquires remaining 50% stake in Pierfront Capital Fund Management
Keppel Company has actually become part of a sales plus acquisition arrangement (SPA) to acquire the maintaining 50% risk it does not own in Pierfront Capital Fund Management Pte. Ltd. on Oct 2. The involvement was acquired from Clifford Capital Holdings.
Pierfront Funding offers bespoke private credit funding services in real property fields. It concentrates on corporate loaning to managing firms with defensive infrastructure-like company systems, across real asset fields in Asia Pacific, including energy, transport, telecoms, in addition to social facilities and logistics.
KPPCF attained its final end in 2022, together with the top-tier investors KPPCF brought in consist of top global institutional investors such as the Alberta Financial Investment Management Corporation in support of some of its clienteles, the Asian Infrastructure Investment Bank, GCM Grosvenor in support of an independently regulated account, alongside Manulife.
” Our team believe that the growing demand for alternative lending solutions, combined with Keppel’s deep organizations and also considerable operating expertise inside the real asset market, will tactically place Pierfront’s presenting and upcoming loan budget to seize possibilities in Asian private loan industry. This strategy will certainly permit us to provide financiers desirable risk-adjusted profits with drawback protection,” she adds.
” Our team believe that the private credit asset class carries encouraging long-term development capability particularly in today’s unstable financial landscape and tighter debt markets. We are eager about opportunities in the Asia-Pacific place, in which we observe an expanding number of companies looking for specialised intermediate capital options,” says Christina Tan, chief executive officer of fund management including main investment specialist of Keppel.
The program was established in 2015 by Clifford Capital. Right after the effective release of its first private debt fund, Clifford Capital Holdings and Keppel developed a collaboration in 2020. Both affairs also saw their joint sponsorship of the second nonpublic debt budget, Keppel-Pierfront Private Credit Fund, LP (KPPCF) in 2020.
” I wish to thank Keppel, Clifford Capital and the Pierfront Capital team for all of their support and also effort in creating the Pierfront Capital system. Clifford Capital remains a co-sponsor of KPPCF with Keppel. As Clifford Capital transforms its attention to some other strategic initiatives, we eagerly anticipate continuing our broad and also multi-faceted partnership with Keppel and also I want Pierfront Capital and also Keppel the best for the future,” says Rajeev Kannan, outbound chairman of Pierfront Capital and non-executive supervisor of Clifford Capital.