Keppel acquires remaining 50% stake in Pierfront Capital Fund Management
Keppel Corporation has entered into a sales plus purchase agreement (SPA) to acquire the remaining 50% stake it does not own in Pierfront Capital Fund Management Pte. Ltd. on Oct 2. The stake was obtained coming from Clifford Capital Holdings.
KPPCF attained its ultimate end in 2022, together with the top-tier investors KPPCF brought in include leading international institutional capitalists for example, the Alberta Investment Management Company in support of certain of its clients, the Asian Infrastructure Investment Bank, GCM Grosvenor in support of an individually managed account, together with Manulife.
” Our team believe that the private credit asset class secures appealing lasting development capability specifically in today’s unstable economic landscape and tighter loan industry. We are enthusiastic regarding possibilities in the Asia-Pacific area, in which we view a growing variety of firms looking for specialised intermediate funding solutions,” states Christina Tan, chief executive officer of finance management and also chief investment officer of Keppel.
” I want to thank Keppel, Clifford Capital as well as the Pierfront Capital team for all of their assistance and also attempt in establishing the Pierfront Capital system. Clifford Capital stays a co-sponsor of KPPCF with Keppel. As Clifford Capital switches its attention to some other calculated initiatives, we expect proceeding our wide and also multi-faceted connection with Keppel and also I want Pierfront Capital and Keppel the best for the future,” states Rajeev Kannan, outgoing chairman of Pierfront Capital and non-executive supervisor of Clifford Capital.
” Our company believe that the expanding need for alternative lending services, incorporated with Keppel’s deep organizations and comprehensive operating expertise within the real asset sector, will tactically position Pierfront’s occurring and upcoming credit funds to take opportunities in Asian private loan markets. This technique will enable us to supply financiers appealing risk-adjusted gains with disadvantage security,” she adds.
Pierfront Capital offers bespoke nonpublic loan funding options in real asset sectors. It focuses on corporate financing to running business with protecting infrastructure-like business systems, throughout real investment sectors in Asia Pacific, like energy, transport, telecoms, together with social infrastructure and logistics.
The platform was established in 2015 by Clifford Capital. Right after the successful deployment of its very first private loan fund, Clifford Capital Holdings and also Keppel established a partnership in 2020. Both affairs also saw their shared sponsorship of the second nonpublic debt finances, Keppel-Pierfront Private Credit Fund, LP (KPPCF) in 2020.