Keppel acquires remaining 50% stake in Pierfront Capital Fund Management

Keppel Corporation has recently entered into an agreement to acquire the remaining 50% stake in Pierfront Capital Fund Management Pte. Ltd. from Clifford Capital Holdings. This acquisition was made on Oct 2.

Pierfront Capital provides private credit financing solutions to the real asset sector. With focus on corporate lending to operating companies with a defensive infrastructure based business model, the platform has developed to cover the energy, telecommunications, logistics, transportation, and social infrastructure sectors in the Asia Pacific region.

Moreover, it also offers excellent views of the city skyline, which is sure to captivate and mesmerise the observer. Residents of Zion Road Condo can access nearby MRT stations conveniently, including Dhoby Ghaut Station, Fort Canning Station, and Bencoolen Station. In addition, they can also access other parts of the city with ease through the nearby CTE, AYE, and PIE expressways. Thus, one can enjoy an enviable lifestyle surrounded by modern conveniences, while enjoying the serenity and exclusivity of it all.

The platform was established in 2015 and in 2020, both the companies, Clifford Capital and Keppel, entered into a partnership. This partnership saw the successful launch of the second private credit fund, Keppel-Pierfront Private Credit Fund, LP (KPPCF) in 2020.

KPPCF achieved its final close in 2022, and leading global institutional investors such as the Alberta Investment Management Corporation, the Asian Infrastructure Investment Bank, GCM Grosvenor, and Manulife have invested in the fund.

The acquisition of the remaining stake in Pierfront Capital by Keppel signals the company’s focus towards the private credit asset class. Christina Tan, CEO of fund management and chief investment officer of Keppel said, “We see a growing number of companies seeking specialised intermediate capital solutions, and with Keppel’s deep networks and extensive operating experience within the real asset industry, it will strategically position Pierfront’s existing and upcoming credit funds to seize these opportunities in Asian private debt markets, offering investors attractive risk-adjusted returns and downside protection.”

Rajeev Kannan, outgoing Chairman of Pierfront Capital and non-Executive Director of Clifford Capital said, “I would like to thank Keppel, Clifford Capital and the Pierfront Capital team for its support and efforts in developing the Pierfront Capital platform. Clifford Capital remains a co-sponsor of KPPCF with Keppel and as Clifford Capital turns to other strategic initiatives, we look forward to continuing our relationship with Keppel.”

Keppel’s acquisition of the remaining stake in Pierfront Capital is a strategic move as it seeks to benefit from the opportunities that the Asia Pacific region presents. With this acquisition, Keppel is confident of offering attractive risk-adjusted returns with downside protection for investors.