Keppel acquires remaining 50% stake in Pierfront Capital Fund Management
KPPCF achieved its final close in 2022, and even the top-tier investors KPPCF attracted feature top international institutional investors for example, the Alberta Financial Investment Management Corporation in behalf of certain of its clients, the Asian Infrastructure Investment Bank, GCM Grosvenor in behalf of an individually supervised account, as well as Manulife.
Keppel Corporation has already entered into a sales and acquisition agreement (SPA) to get the maintaining 50% stake it does not possess in Pierfront Capital Fund Management Pte. Ltd. on Oct 2. The stake was acquired coming from Clifford Capital Holdings.
” I wish to say thanks to Keppel, Clifford Capital and the Pierfront Capital group for all of their support and also initiative in establishing the Pierfront Capital platform. Clifford Capital remains a co-sponsor of KPPCF with Keppel. As Clifford Capital transforms its interest to other tactical initiatives, we look forward to proceeding our broad and also multi-faceted partnership with Keppel and I want Pierfront Capital and Keppel the greatest for the future,” states Rajeev Kannan, outgoing chairman of Pierfront Capital and non-executive director of Clifford Capital.
” Our team believe that the private credit resource class secures appealing long-term development opportunity specifically in today’s unstable economic landscape and also tighter credit industry. We are enthusiastic regarding possibilities in the Asia-Pacific area, where we see a growing variety of business looking for dedicated intermediate capital options,” claims Christina Tan, chief executive officer of fund management and primary investment specialist of Keppel.
The platform was established in 2015 by Clifford Capital. After the successful deployment of its first exclusive debt fund, Clifford Capital Holdings and also Keppel developed an alliance in 2020. The two parties also viewed their joint sponsorship of the 2nd nonpublic credit finances, Keppel-Pierfront Private Credit Fund, LP (KPPCF) in 2020.
” We believe that the growing requirement for alternative lending solutions, combined with Keppel’s deep organizations as well as extensive operating experience inside the real investment industry, will tactically place Pierfront’s occurring and also upcoming trust budget to take opportunities in Asian exclusive debt industry. This strategy will enable us to provide investors appealing risk-adjusted yields with drawback security,” she includes.
Pierfront Funding offers bespoke nonpublic loan financing solutions in real property markets. It focuses on business financing to managing business with preventive infrastructure-like business designs, throughout real asset markets in Asia Pacific, such as energy, transport, telecoms, together with social facilities and even logistics.