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Fundraising - MARCH 30, 2020

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Keppel-Pierfront Private Credit Fund holds first close

by Kali Persall

Pierfront Capital Fund Management, a subsidiary of Singapore-based alternative credit investment company PCMF, has completed a first close for its Keppel-Pierfront Private Credit Fund.

The fund is jointly sponsored by Pierfront Capital Mezzanine Fund (PCMF) and Keppel Capital Holdings, each of which committed $100 million to the fund’s first close.

The fund’s strategy is to provide credit to corporates or projects in the real asset sectors of the Asia-Pacific region, where financing needs are not met by traditional commercial banks. These sectors include infrastructure, real estate, offshore marine, transportation, energy and natural resources.

In November 2019, Keppel Capital purchased a 50 percent stake in Pierfront Capital for $7.8 million in cash. Under the terms of the deal, Pierfront Capital agreed to act as the investment manager of Keppel-Pierfront Private Credit Funds.

 

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