Keppel acquires remaining 50% stake in Pierfront Capital Fund Management
Keppel Company has participated in a sales also purchase arrangement (SPA) to get the remaining 50% stake it does not have in Pierfront Capital Fund Management Pte. Ltd. on Oct 2. The stake was gotten coming from Clifford Capital Holdings.
” I wish to say thanks to Keppel, Clifford Capital and also the Pierfront Capital group for all of their assistance and effort in creating the Pierfront Capital platform. Clifford Capital remains a co-sponsor of KPPCF with Keppel. As Clifford Capital turns its attention to other calculated efforts, we anticipate proceeding our broad and multi-faceted partnership with Keppel and also I want Pierfront Capital and also Keppel the greatest for the future,” states Rajeev Kannan, outbound chairman of Pierfront Capital as well as non-executive supervisor of Clifford Capital.
The platform was set up in 2015 by Clifford Capital. After the successful implementation of its initial private debt fund, Clifford Capital Holdings and also Keppel developed an alliance in 2020. The two affairs also observed their shared sponsorship of the 2nd nonpublic credit finances, Keppel-Pierfront Private Credit Fund, LP (KPPCF) in 2020.
” Our company believe that the exclusive trust resource class carries promising lasting development opportunity especially in today’s volatile financial landscape and also tighter loan industry. We are passionate about opportunities in the Asia-Pacific area, where we view an increasing variety of firms seeking dedicated intermediate capital solutions,” claims Christina Tan, CEO of money management and primary investment officer of Keppel.
Pierfront Funding provides bespoke nonpublic loan funding options in real asset fields. It focuses on business borrowing to operating companies with defensive infrastructure-like business models, across real property sectors in Asia Pacific, including power, transport, telecommunications, in addition to social infrastructure along with logistics.
” Our company believe that the expanding requirement for alternate financing solutions, combined with Keppel’s deep networks as well as considerable running expertise inside the real investment market, will tactically position Pierfront’s existing and also upcoming credit budget to take chances in Asian special loan markets. This method will enable us to supply investors desirable risk-adjusted returns with disadvantage security,” she includes.
KPPCF achieved its final close in 2022, and even the top-tier real estate investors KPPCF drawn in consist of leading international institutional investors such as the Alberta Financial Investment Management Firm in behalf of certain of its clients, the Asian Infrastructure Investment Bank, GCM Grosvenor in support of an independently regulated account, as well as Manulife.