Keppel acquires remaining 50% stake in Pierfront Capital Fund Management
Keppel Corporation has actually entered into a sales also purchase agreement (SPA) to acquire the remaining 50% stake it does not have in Pierfront Capital Fund Management Pte. Ltd. on Oct 2. The stake was obtained from Clifford Capital Holdings.
KPPCF attained its final close in 2022, and the top-tier investors KPPCF drawn in consist of leading global institutional capitalists for example, the Alberta Financial Investment Management Firm on behalf of some of its clienteles, the Asian Infrastructure Investment Bank, GCM Grosvenor in behalf of a separately managed account, alongside Manulife.
” I want to give thanks to Keppel, Clifford Capital and also the Pierfront Capital team for all their support and initiative in developing the Pierfront Capital system. Clifford Capital remains a co-sponsor of KPPCF with Keppel. As Clifford Capital transforms its attention to other tactical campaigns, we anticipate proceeding our wide and multi-faceted partnership with Keppel and also 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.
” We believe that the growing demand for alternative loaning solutions, integrated with Keppel’s deep networks as well as extensive operating expertise inside the real property industry, will purposefully place Pierfront’s presenting and upcoming trust money to seize possibilities in Asian exclusive debt industry. This method will allow us to offer financiers attractive risk-adjusted returns with drawback security,” she adds.
” We believe that the private credit investment class carries encouraging lasting growth capability particularly in today’s unstable financial landscape and tighter credit markets. We are passionate regarding possibilities in the Asia-Pacific place, in which we observe an increasing number of companies seeking dedicated intermediate funding solutions,” claims Christina Tan, CEO of finance management and main investment officer of Keppel.
The program was developed in 2015 by Clifford Capital. After the effective deployment of its initial exclusive credit fund, Clifford Capital Holdings and also Keppel established a collaboration in 2020. The two parties also viewed their shared sponsorship of the 2nd exclusive credit fund, Keppel-Pierfront Private Credit Fund, LP (KPPCF) in 2020.
Pierfront Capital offers bespoke exclusive loan financing options in real asset fields. It focuses on business financing to operating companies with preventive infrastructure-like company systems, across real property fields in Asia Pacific, including power, transportation, telecoms, in addition to social infrastructure and logistics.