Keppel acquires remaining 50% stake in Pierfront Capital Fund Management
The program was established in 2015 by Clifford Capital. Right after the successful implementation of its initial exclusive debt fund, Clifford Capital Holdings and Keppel developed a partnership in 2020. Both parties also viewed their joint sponsorship of the 2nd private credit budget, Keppel-Pierfront Private Credit Fund, LP (KPPCF) in 2020.
KPPCF attained its final close in 2022, and the top-tier real estate investors KPPCF drawn in consist of leading global institutional financiers just like the Alberta Financial Investment Management Firm in support of particular of its clienteles, the Asian Infrastructure Investment Bank, GCM Grosvenor on behalf of an independently managed account, together with Manulife.
Keppel Corporation has actually participated in a sales plus acquisition contract (SPA) to get the maintaining 50% stake it does not possess in Pierfront Capital Fund Management Pte. Ltd. on Oct 2. The stake was obtained coming from Clifford Capital Holdings.
” Our company believe that the private credit investment class holds encouraging lasting growth potential especially in today’s unstable financial landscape as well as tighter debt industry. We are enthusiastic regarding opportunities in the Asia-Pacific area, in which we see a growing variety of business looking for specialised intermediate funding services,” claims Christina Tan, CEO of fund management including chief financial investment officer of Keppel.
” I wish to say thanks to Keppel, Clifford Capital and also the Pierfront Capital team for all of their assistance and attempt in establishing the Pierfront Capital system. Clifford Capital continues to be a co-sponsor of KPPCF with Keppel. As Clifford Capital transforms its attention to some other strategic initiatives, we expect proceeding our wide as well as multi-faceted partnership with Keppel as well as I wish Pierfront Capital and Keppel the very best for the future,” claims Rajeev Kannan, outbound chairman of Pierfront Capital as well as non-executive director of Clifford Capital.
Pierfront Funding supplies bespoke nonpublic credit funding solutions in real asset fields. It focuses on business borrowing to operating business with protecting infrastructure-like business systems, across real property sectors in Asia Pacific, such as energy, transportation, telecoms, together with social infrastructure and even logistics.
” We believe that the expanding need for alternate loaning solutions, incorporated with Keppel’s deep organizations and also comprehensive operating knowledge inside the real asset industry, will purposefully place Pierfront’s occurring as well as upcoming credit budget to grab possibilities in Asian private debt industry. This technique will permit us to offer financiers appealing risk-adjusted yields with drawback protection,” she adds.