Keppel acquires remaining 50% stake in Pierfront Capital Fund Management
Pierfront Funding supplies bespoke private credit financing services in real asset sectors. It concentrates on corporate borrowing to managing firms with protecting infrastructure-like organization designs, throughout real property industries in Asia Pacific, including power, transportation, telecoms, together with social facilities and logistics.
” Our team believe that the growing need for alternate lending services, integrated with Keppel’s deep networks and extensive running experience inside the real asset sector, will tactically place Pierfront’s presenting and upcoming credit money to take opportunities in Asian special loan industry. This strategy will certainly enable us to provide investors appealing risk-adjusted returns with downside security,” she includes.
Keppel Corporation has already participated in a sales also acquisition arrangement (SPA) to obtain the remaining 50% stake it does not own in Pierfront Capital Fund Management Pte. Ltd. on Oct 2. The stake was acquired from Clifford Capital Holdings.
” I want to thank Keppel, Clifford Capital and also the Pierfront Capital team for all their support and effort in developing the Pierfront Capital platform. Clifford Capital stays a co-sponsor of KPPCF with Keppel. As Clifford Capital switches its interest to other tactical efforts, we expect continuing our broad as well as multi-faceted connection with Keppel as well as I want Pierfront Capital and also Keppel the greatest for the future,” claims Rajeev Kannan, outbound chairman of Pierfront Capital and non-executive executive of Clifford Capital.
KPPCF accomplished its finishing end in 2022, and the top-tier real estate investors KPPCF attracted include major global institutional financiers just like the Alberta Financial Investment Management Company on behalf of certain of its clients, the Asian Infrastructure Investment Bank, GCM Grosvenor on behalf of an individually supervised account, alongside Manulife.
” We believe that the discreet trust asset class carries appealing long-lasting growth opportunity especially in today’s volatile financial landscape and also tighter debt industry. We are eager regarding chances in the Asia-Pacific place, in which we view an expanding number of companies seeking dedicated intermediate funding solutions,” says Christina Tan, chief executive officer of fund management and main financial investment specialist of Keppel.
The platform was established in 2015 by Clifford Capital. Right after the successful deployment of its very first private debt fund, Clifford Capital Holdings as well as Keppel developed an alliance in 2020. The two parties also observed their shared sponsorship of the 2nd private debt budget, Keppel-Pierfront Private Credit Fund, LP (KPPCF) in 2020.