Keppel acquires remaining 50% stake in Pierfront Capital Fund Management
Keppel Corporation has entered into a sales plus purchase arrangement (SPA) to acquire the remaining 50% risk it does not possess in Pierfront Capital Fund Management Pte. Ltd. on Oct 2. The involvement was acquired coming from Clifford Capital Holdings.
Pierfront Funding supplies bespoke exclusive credit financing solutions in real asset fields. It concentrates on business loaning to running business with protecting infrastructure-like business systems, across real investment markets in Asia Pacific, such as energy, transportation, telecoms, along with social infrastructure and logistics.
The program was established in 2015 by Clifford Capital. Right after the effective implementation of its initial private credit fund, Clifford Capital Holdings and also Keppel established a collaboration in 2020. Both parties also saw their joint sponsorship of the 2nd exclusive credit budget, Keppel-Pierfront Private Credit Fund, LP (KPPCF) in 2020.
” We believe that the private trust investment class holds appealing lasting growth opportunity particularly in today’s unstable financial landscape and tighter credit markets. We are passionate regarding chances in the Asia-Pacific area, where we observe an increasing number of companies looking for specialised intermediate capital options,” claims Christina Tan, CEO of money management including main investment officer of Keppel.
” Our company believe that the expanding need for alternate loaning services, incorporated with Keppel’s deep networks as well as comprehensive operating experience within the real asset sector, will tactically place Pierfront’s existing as well as upcoming loan funds to seize chances in Asian private debt industry. This method will permit us to supply investors attractive risk-adjusted returns with downside protection,” she adds.
KPPCF attained its ultimate conclusion in 2022, and the top-tier real estate investors KPPCF attracted feature leading worldwide institutional capitalists for example, the Alberta Financial Investment Management Firm in support of certain of its patrons, the Asian Infrastructure Investment Bank, GCM Grosvenor in support of an independently regulated account, as well as Manulife.
” I would love to give thanks to Keppel, Clifford Capital as well as the Pierfront Capital group for all their support and also effort in developing the Pierfront Capital platform. Clifford Capital stays a co-sponsor of KPPCF with Keppel. As Clifford Capital transforms its interest to some other strategic efforts, we anticipate continuing our wide and multi-faceted partnership with Keppel as well as I want Pierfront Capital and Keppel the greatest for the future,” states Rajeev Kannan, outgoing chairman of Pierfront Capital and also non-executive executive of Clifford Capital.