Keppel acquires remaining 50% stake in Pierfront Capital Fund Management
Keppel Corporation has actually participated in a sales and purchase contract (SPA) to obtain the maintaining 50% risk it does not own in Pierfront Capital Fund Management Pte. Ltd. on Oct 2. The stake was acquired from Clifford Capital Holdings.
” Our team believe that the exclusive trust investment class carries promising lasting growth capability especially in today’s unstable economic landscape and tighter debt markets. We are eager about possibilities in the Asia-Pacific area, in which we view a growing number of business looking for specialised intermediate funding solutions,” says Christina Tan, chief executive officer of money management including main investment officer of Keppel.
The program was set up in 2015 by Clifford Capital. After the successful implementation of its very first private debt fund, Clifford Capital Holdings as well as Keppel developed a partnership in 2020. The two affairs also observed their shared sponsorship of the second exclusive debt fund, Keppel-Pierfront Private Credit Fund, LP (KPPCF) in 2020.
” I want to give thanks to Keppel, Clifford Capital as well as the Pierfront Capital team for all their support and attempt in establishing the Pierfront Capital platform. Clifford Capital stays a co-sponsor of KPPCF with Keppel. As Clifford Capital turns its attention to other tactical campaigns, we look forward to proceeding our wide as well as multi-faceted partnership with Keppel as well as I wish Pierfront Capital and Keppel the greatest for the future,” states Rajeev Kannan, outgoing chairman of Pierfront Capital and non-executive executive of Clifford Capital.
Pierfront Capital supplies bespoke nonpublic credit funding options in real property fields. It focuses on corporate lending to managing companies with defensive infrastructure-like business designs, throughout real investment fields in Asia Pacific, like energy, transportation, telecommunications, together with social facilities and even logistics.
” Our team believe that the expanding need for alternate loaning services, incorporated with Keppel’s deep organizations and considerable operating experience inside the real property industry, will purposefully position Pierfront’s presenting and also upcoming credit funds to take opportunities in Asian exclusive loan industry. This strategy will permit us to offer investors appealing risk-adjusted returns with disadvantage protection,” she includes.
KPPCF attained its ultimate conclusion in 2022, and the top-tier real estate investors KPPCF brought in include top international institutional capitalists just like the Alberta Financial Investment Management Company in support of particular of its clienteles, the Asian Infrastructure Investment Bank, GCM Grosvenor in behalf of an independently managed account, alongside Manulife.