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© Copyright SeaTown Holdings International 2025.
Bloomberg, by Megawati Wijaya
A unit of Singapore’s state-owned investor Temasek Holdings Pte. has raised $1.3 billion for its second private credit fund, in a sign that Asia’s fledgling direct lending industry remains attractive to investors hungry for yield and asset diversification.
SeaTown Holdings International completed the fundraising for its SeaTown Private Credit Fund II, backed by a group of limited partners including insurers, endowments, and family offices, the alternative investment firm said in a statement. The new fund also received support from an unspecified Middle Eastern institutional investor.
With the $1.2 billion secured for SeaTown Private Credit Fund I, the firm’s private credit strategy now oversees more than $2.5 billion in assets under management, the statement said.
The Singaporean firm’s funding success offers hope that the world’s $1.7 trillion private credit industry is slowly getting back on its feet after a slump earlier this year when the Federal Reserve maintained its tight policy stance amid sticky inflation. Now with the US central bank widely expected to reduce interest rates next month, direct lenders’ prospects have turned brighter, especially for those in Asia where growth has been faster given a low base.
Private debt fundraising in Asia Pacific reached $1 billion in the second quarter, up from $600 million between January and March, according to data provider Preqin Ltd. The improvement came after direct lending globally scraped the lowest level in any quarter since 2020 in the first three months of this year.
Read the full article here (subscription may be required): https://www.bloomberg.com/news/articles/2024-08-27/temasek-s-private-credit-arm-raises-1-3-billion-for-new-fund
SeaTown Holdings International (“SeaTown”), a leading Asia-focused alternative investment firm and wholly-owned subsidiary of Temasek’s asset management group Seviora Holdings, is pleased to announce the final close of the SeaTown Private Credit Fund II (“PCF II”) with over US$1.3 billion in capital commitments. The total commitment size of the second fund surpasses the US$1.2 billion secured for SeaTown Private Credit Fund I (“PCF I”), further adding to the firm’s growth momentum for its private credit strategy.
“We are immensely thankful for the support we have witnessed following the launch of PCF II,” said Patrick Pang, CEO, SeaTown. “This milestone highlights not only the growing appetite for Asian private credit in institutional portfolios around the world but also reflects the confidence and trust in SeaTown’s approach. Our private credit team has demonstrated a clear ability to repeatedly source, structure, and execute complex and bespoke deals across industries. We are excited to continue executing on our proven investment strategy to deliver attractive risk-adjusted returns to our investors.”
Read more in the attached Press Release.
3 Fraser Street #06-23 DUO Tower
Singapore 189352
T +65 6622 9022
F +65 6820 6808
© Copyright SeaTown Holdings International 2025.