The fund targets a net return in the mid-teens, along with a double-digit distribution yield to investors
SEATOWN Holdings, an investment manager indirectly owned by Temasek, has announced the final close of SeaTown Private Credit Fund II with over US$1.3 billion in capital commitments.
This is more than total commitments of US$1.2 billion secured for the fund’s predecessor, SeaTown Private Credit Fund I. It brings SeaTown’s private credit strategy to more than US$2.5 billion in assets under management across both funds.
SeaTown is a wholly owned subsidiary of Temasek’s asset management group, Seviora Holdings.
On Tuesday (Aug 27), SeaTown said its latest round of investors included “a leading Middle Eastern institutional investor”, as well as insurance companies, endowments and family offices.
SeaTown Private Credit Fund II was launched in end-2022. The fund targets a net return in the mid-teens, along with a double-digit distribution yield to investors.
The closed-ended vehicle will deploy capital on a sector-agnostic basis to multi-asset portfolios seeking income, capital preservation and diversification.
SeaTown chief executive Patrick Pang, referring to the fund’s closing, said: “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.”
He added: “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.”
