SeaTown Holdings – the wholly-owned subsidiary of Temasek’s asset administration group – has closed its newest personal credit score fund with greater than $1.3bn (£0.98bn) in capital commitments.
The SeaTown Personal Credit score Fund II was backed by a mixture of present and new restricted companions, together with insurance coverage corporations, endowments, and household places of work. The fund additionally secured a dedication from an unnamed Center Japanese institutional investor.
The Singapore-based fund launched on the finish of 2022 and focuses on lending to companies throughout Asia Pacific.
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Following the shut of the SeaTown Personal Credit score Fund II, SeaTown’s personal credit score technique now oversees greater than $2.5bn in property below administration.
“This milestone highlights not solely the rising urge for food for Asian personal credit score in institutional portfolios world wide but in addition displays the boldness and belief in SeaTown’s strategy,” stated Patrick Pang, chief govt of SeaTown.
“Our personal credit score workforce has demonstrated a transparent capacity to repeatedly supply, construction, and execute advanced and bespoke offers throughout industries.
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“We’re excited to proceed executing on our confirmed funding technique to ship enticing risk-adjusted returns to our traders.”
The fund will deploy capital on a sector agnostic foundation and goal a mid-teens web return and double-digit distribution yield for traders over its fund life.
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