Keppel acquires remaining 50% stake in Pierfront Capital Fund Management
Keppel Corporation has entered into a sales plus acquisition arrangement (SPA) to obtain the maintaining 50% risk it does not have in Pierfront Capital Fund Management Pte. Ltd. on Oct 2. The involvement was acquired from Clifford Capital Holdings.
The platform was established in 2015 by Clifford Capital. Right after the effective implementation of its very first private credit fund, Clifford Capital Holdings as well as Keppel developed a partnership in 2020. Both parties also observed their shared sponsorship of the 2nd nonpublic credit budget, Keppel-Pierfront Private Credit Fund, LP (KPPCF) in 2020.
” Our team believe that the private trust asset class secures promising long-term growth opportunity particularly in today’s volatile economic landscape and tighter debt industry. We are enthusiastic about opportunities in the Asia-Pacific region, in which we observe an expanding number of companies looking for specialised intermediate funding services,” states Christina Tan, CEO of fund management and also chief investment officer of Keppel.
KPPCF attained its final conclusion in 2022, together with the top-tier real estate investors KPPCF drawn in consist of leading global institutional capitalists just like the Alberta Financial Investment Management Corporation on behalf of some of its patrons, the Asian Infrastructure Investment Bank, GCM Grosvenor in support of an individually regulated account, as well as Manulife.
Pierfront Capital offers bespoke nonpublic credit financing options in real property markets. It focuses on corporate financing to operating companies with protecting infrastructure-like organization designs, throughout real asset fields in Asia Pacific, such as power, transportation, telecommunications, along with social infrastructure and logistics.
” I wish to say thanks to Keppel, Clifford Capital as well as the Pierfront Capital group for all of their support and also effort in developing the Pierfront Capital platform. Clifford Capital continues to be a co-sponsor of KPPCF with Keppel. As Clifford Capital transforms its attention to some other calculated campaigns, we look forward to continuing our wide and also multi-faceted partnership with Keppel and also I desire Pierfront Capital and Keppel the greatest for the future,” says Rajeev Kannan, outgoing chairman of Pierfront Capital and also non-executive supervisor of Clifford Capital.
” Our company believe that the expanding demand for alternative loaning solutions, integrated with Keppel’s deep organizations and extensive running experience inside the real asset market, will strategically place Pierfront’s existing and upcoming loan money to seize chances in Asian exclusive debt industry. This strategy will certainly allow us to supply investors attractive risk-adjusted gains with disadvantage protection,” she includes.