AsianInvestor, by Nishtha Asthana
Our Deputy CIO and Managing Director for Private Investments, Eddie Ong shared his views on allocation trend towards private credit with AsianInvestor.
Asset owners may find private debt more attractive, where returns are high relative to the historical rate environment. In addition, gradual interest rate declines would benefit private debt generally.
We see clear trends of allocation of more capital towards private debt across global markets and institutional investor types compared to past portfolio compositions and a growing appetite for Asia private equity opportunities, given the depressed valuations relative to their developed market counterparts.
Private Debt Investor, by Claire Coe Smith
Our Deputy CIO and Managing Director for Private Investments, Eddie Ong, was featured in the Private Debt Investor April 2024 issue – the 18-page special report on Asia Pacific, where Claire Coe Smith covered the region’s private debt landscape.
Eddie gave his views on the attractive proposition of private credit in Southeast Asia for borrowers, as private credit investors step in as a viable alternative capital source to pressured public markets credit issuance in the region.
“Across Southeast Asia, we see equity market performance facing further uncertainty and downward pressure. This backdrop has meant companies preparing for an IPO continue to adjust their timelines for a public debut, favouring pushing it out by one to two years to ensure they can secure the best valuations. In the meantime, they require capital for growth, and that is where private credit becomes an attractive proposition. In addition, there are loans that need to be refinanced with no option of public market issuance, so borrowers are readily turning to the private market as a viable alternative capital source.”
https://www.privatedebtinvestor.com/download-the-april-2024-issue-of-private-debt-investor/
SeaTown has been named the ‘Best Private Debt Manager’ for the AsianInvestor Asset Management Awards 2024
Singapore, 1 April 2024 – Leading Asia-focused alternative investment firm SeaTown Holdings International (“SeaTown”), a wholly-owned subsidiary of Temasek’s asset management group Seviora Holdings, is proud to announce that it has been awarded the prestigious title of ‘Best Private Debt Manager’ by a panel of industry practitioners and professionals for the AsianInvestor Asset Management Awards 2024.
The annual award series has recognised the investment industry’s outstanding performers for over two decades. This year saw the highest volume of entries since 2018, reflecting intense competition among leading fund managers, as well as the exceptional quality and proven track record of SeaTown’s private credit offering. Winners were selected based on a range of quantitative and qualitative factors, including performance, business growth, investment approach, portfolio management, fundraising success and more.
“We are honoured to receive this award, and we extend our deepest appreciation to our clients for their continued support over the years,” said Patrick Pang, CEO. “This accolade is a clear testament to the experience and dedication of our private credit investment team and our ability to deliver compelling investment solutions that fulfil the dynamic needs of international investors today.”
SeaTown’s private credit strategy focuses on providing highly tailored financing solutions to companies in Asia. This Asia-focused strategy has demonstrated its ability to source, structure, and execute complex and bespoke deals across sectors critical to regional economies. Following the closing and successful deployment of SeaTown Private Credit Fund I, the firm launched SeaTown Private Credit Fund II at the end of 2022.
Learn more about the Asset Management Awards 2024 here.
About SeaTown
Founded and headquartered in Singapore since 2009, SeaTown is a leading Asia-focused alternative investment firm with deep expertise across private and public markets. Owned by Seviora Holdings, Temasek’s asset management group, we are a trusted steward of capital, investing alongside our investors in conviction-driven strategies.
Our alternative investment fund platform offers international investors exposure to highly specialised private equity, private credit, and thematic absolute return public markets opportunities in the region. As your partner, we strive to deliver compelling risk-adjusted returns by leveraging our extensive relationship network, decades of investing experience and astute global perspectives.
For more information on SeaTown, please visit: https://www.seatowninternational.com/
Investor Contact
Kayla Wah, SeaTown
Media Contact
Kainoa Blaisdell, FTI Consulting
CityWire, by Cheryl Heng
Our Deputy CIO and Managing Director for Private Investments, Eddie Ong recently shared with Cheryl Heng of Citywire Asia, about the downside protection which Asia private credit structures can offer.
“In Asia, private credit structures are known for their high degree of customisation and proprietary nature compared to developed markets.
This customisation includes better covenants that align with the borrower’s cash-flow profile, improved collateral coverage and protection triggers.
This positions lenders more favourably when renegotiating terms in the event of deteriorating credit during the lending period.”
The SeaTown team came together to participate in the One Million Trees movement by National Parks Board (NParks). We spent the morning planting trees at Pulau Ubin – one of the 12 designated sites for the movement.
The One Million Trees movement is an initiative by NParks to plant one million more trees across Singapore with the community by #2030. This is part of their efforts to transform Singapore into a City in Nature, which is a key pillar under the Singapore Green Plan 2030.
To date, NParks has planted >600,000 trees across Singapore. To learn more about the movement, click here About the Movement (nparks.gov.sg).
We are proud to have played an active role in the greening of Singapore, under the Plant-A-Tree fundraiser programme, to which we donated to the costs of young trees and planted them ourselves. We look forward to more opportunities to contribute to this meaningful cause.
Private Debt Investor, by Claire Coe Smith
Our Deputy CIO and Managing Director for Private Investments, Eddie Ong was featured in the Private Debt Investor Asia Pacific November 2023 Report, which covers the trends and opportunities in the region’s private debt market.
Eddie had an insightful conversation with Claire Coe Smith of Private Debt Investor, where he discussed how to build a pan-Asian private credit strategy. He also talked about our ESG approach as Asian managers sharpen their ESG focus.
The report also includes a recap of the PDI APAC Forum 2023 in March, where our Managing Director for Private Credit, Chan Wei Hsien participated in a panel discussion sharing about the advantages of private credit over public bonds, citing the benefits of bespoke structures, covenants and collateral backing for investors seeking potentially better risk-adjusted returns.
https://www.privatedebtinvestor.com/download-pdis-2023-asia-pacific-report/
Congratulations to SeaTown SkyRacers for coming in 3rd place for the Community Chest Singapore Vertical Marathon, held over the weekend. Organized by National Council of Social Service (NCSS), all proceeds go to support over 100 social service agencies to meet underserved and critical social needs.
The team has trained hard over the last 2 months to climb 57 storeys. Scaling heights is no easy feat but their determination and perseverance certainly paid off!
SeaTown Private Capital Master Fund, the private equity fund managed by SeaTown Holdings International Pte. Ltd. (“SeaTown”), is pleased to announce its investment into Foundation Healthcare Holdings Pte Ltd (“FHH”).
FHH is a ground-up, purpose-built healthcare group starting first in Singapore and will form the nucleus for a new regional private healthcare platform. The vision of this technology-enabled healthcare group is to deliver value-based healthcare by making private healthcare accessible, affordable, and accountable.
With more than 50 specialists spanning 13 medical specialty and an estimated pro-forma revenue of over S$130m, FHH is already one of the largest private healthcare groups in Singapore. FHH will continue to pursue its “buy-and-build” strategy to expand its network, geographical footprint as well as extend into other synergistic ancillary healthcare services. FHH will also leverage technology from Smarter Health Pte Ltd (“SH”), to develop a data-driven technology platform designed to improve coordination between key stakeholders, especially insurers and other third-party payors. This will vastly enhance the patient experience and reduce waste.
The FHH management team will be helmed by Mr Liaw Yit Ming and Dr Lee Hong Huei, former senior executives in IHH Healthcare (SGX: Q0F) and veterans in the healthcare industry.
“I believe we have taken an important first step in establishing a new foundation for private healthcare. There are endless opportunities if stakeholders work together to focus on delivering value for patients. Our vision is to leverage this platform to build a sustainable private healthcare system that is accessible, affordable, and accountable. I am personally humbled and extremely grateful that our simple vision has received not just the trust and support of SeaTown but more importantly, our founding group of doctors!” said Liaw Yit Ming, CEO, FHH.
“FHH’s vision to make healthcare accessible, affordable and accountable resonates strongly with us. We are very pleased to be able to partner with such an exceptional founding team and group of dedicated specialist doctors to achieve this goal. The good traction we have had and the continued interest in FHH is testament that this vision is shared by many practitioners in the industry. We look forward to partnering with them to drive innovation and improve healthcare outcomes for patients in Singapore and beyond” said Dickson Loo, Managing Director, SeaTown.
About Foundation Healthcare Holdings Pte. Ltd. (“FHH”)
FHH is a ground-up, purpose-built, technology-enabled healthcare platform headquartered in Singapore with its sights set on the region. The vision is to design, build and operate a healthcare platform focused on creating value for patients by collaborating with all stakeholders in the healthcare ecosystem.
About Smarter Health Pte Ltd (“SH”)
SH provides a trusted infrastructure for data exchange between key stakeholders of the healthcare ecosystem. Our “Simplify, Standardise and Systemise” approach supports the delivery and payment for healthcare services in an efficient and effective manner. The SH team consists of experienced senior executives from established healthcare and insurance institutions in Asia who believe that healthcare should be accessible, affordable and accountable.
About SeaTown Holdings International Pte. Ltd. (“SeaTown”)
SeaTown is a Singapore-based investment manager focused on alternative, absolute return strategies. SeaTown manages multi-asset and public equity strategies through open-end funds as well as private investments strategies in closed-end funds. SeaTown also offers investment solutions calibrated to clients’ unique investment needs and objectives. SeaTown is a wholly owned subsidiary of Seviora Holdings Pte. Ltd. and indirectly owned by Temasek Holdings (Private) Limited.
To help develop the next generation of sustainability leaders, SeaTown Holdings International Pte Ltd (SeaTown) and Singapore Management University (SMU) have jointly established the SeaTown Sustainability Scholarship (Scholarship).
From Academic Year (AY) 2023/2024 to AY2025/2026, two outstanding third-year SMU undergraduates will be awarded the Scholarship each year. Scholarship recipients are required to have declared Sustainability as a major and must demonstrate excellent academic qualities and an active commitment to sustainability.
Each scholarship recipient will receive a total of S$30,000 (S$15,000 per year for their third and fourth years of study) to cover their tuition fee and/or other study-related expenses. Scholars will also have the opportunity to be involved in a sustainability-focused role in the asset management industry through an internship with SeaTown’s Sustainability Research teams. In total, six students will benefit from the Scholarship.
Patrick Pang, CEO of SeaTown, said, “SeaTown believes that sustainability trends will rewire the business world and present compelling new investment opportunities. We see a clear need for more sustainability-skilled business professionals in Singapore to support its Green Plan and to contribute to Singapore as a leading destination for sustainable investing.”
“We believe that promoting the growth of the next generation of sustainability leaders will magnify Singapore’s contribution to addressing some of the world’s most pressing challenges,” he added.
Commenting on the Scholarship, Professor Bert de Reyck, Dean of SMU Lee Kong Chian School of Business, said, “One of the key strategies in SMU’s Sustainability Blueprint is to develop change agents through education. To prepare our students to be future sustainability leaders and active global citizens, sustainability education is embedded throughout our curriculum, which offers foundation, intermediate and advanced mastery of sustainability issues to all our students.
We are delighted to have found a likeminded partner in SeaTown, and we are grateful for the generosity it has extended to our students through this Scholarship and the internship opportunity with SeaTown’s research teams.”
For more information, please contact:
SMU
Huang Peiling
Snr Assistant Director, Corporate Communications
Email: plhuang@smu.edu.sg
SeaTown
Kayla Wah
Director, Business Development
Email: BD@seatownholdings.com
About Singapore Management University
Established in 2000, Singapore Management University (SMU) is recognised for its disciplinary and multi-disciplinary research that address issues of global relevance, impacting business, government, and society. Its distinctive education, incorporating innovative experiential learning, aims to nurture global citizens, entrepreneurs and change agents. With more than 12,000 students, SMU offers a wide range of bachelors, masters and PhD degree programmes in the disciplinary areas associated with six of its eight schools – Accountancy, Business, Economics, Computing, Law and Social Sciences. Its seventh school, the SMU College of Integrative Studies, offers a bachelor’s degree programme in deep, integrative interdisciplinary education. The College of Graduate Research Studies, SMU’s eighth school, enhances integration and interdisciplinarity across the various SMU postgraduate research programmes that will enable our students to gain a holistic learning experience and well-grounded approach to their research. SMU also offers a growing number of executive development and continuing education programmes. Through its city campus, SMU focuses on making meaningful impact on Singapore and beyond through its partnerships with industry, policy makers and academic institutions. www.smu.edu.sg
About SeaTown Holdings International
SeaTown Holdings International Pte. Ltd. (SeaTown), is a Singapore-based investment manager focused on alternative, absolute-return strategies. SeaTown manages multi-asset and public credit strategies through open-end funds, as well as private investments in closed-end funds. SeaTown also offers investment solutions calibrated for clients’ unique investment needs and objectives. SeaTown is a wholly-owned subsidiary of Seviora Holdings, and indirectly owned by Temasek Holdings. For more information, please visit www.seatowninternational.com.
Private Debt Investor, by Andy Thomson
SeaTown Holdings International, an indirect wholly owned subsidiary of Singapore-based global investment company Temasek Holdings, has closed a private credit fund on $1.23 billion.
A spokesman for the firm said most of the commitments had come from Asia-Pacific-based investors. He added that some which didn’t commit were interested in coming into the next fund but wanted a longer feed-in time and to understand more about the proposition.
This fund is the first by SeaTown to have sought third-party capital, having primarily managed internal capital previously. Having set out to raise $200 million from limited partners, SeaTown ended up raising around $230 million from them over a six-month period. The fund…To continue reading, click here
3 Fraser Street #06-23 DUO Tower
Singapore 189352
T +65 6622 9022
F +65 6820 6808
