Clifford Capital takes 50% stake in Singapore's Pierfront

It follows the acquisition of a 50% stake in Pierfront last year by Singapore’s Keppel Capital for about $7.8 million. The transactions establish Clifford and Keppel as a 50-50 partnership in Pierfront, including the Pierfront Capital Mezzanine Fund and the Keppel-Pierfront Private Credit Fund, which reached a first close of $200 million in March. 

Clifford helped set up Pierfront in 2016 as an entity controlled by Temasek Holdings and Japan’s Sumitomo Mitsui Banking Corporation. Since inception, Clifford has provided back and middle-office services to the firm, which claims to have invested about $400 million across 15 transactions and achieved four exits. 

“We look to leverage on CCH’s [Clifford Capital Holdings] extensive network, not only to gain access to further opportunities to meet the increasing demand for specialist intermediate capital in the real asset sectors, but also for valuable sector and credit-related insight,” Stephane Delatte, CEO and CIO of Pierfront, said in a release.

“We believe the strategic partnership between CCH and Keppel Capital in Pierfront Capital, will amplify Pierfront Capital’s long-term prospects as well as augment our capabilities to deliver attractive risk-adjusted returns for our investors.” 

Clifford is a specialist provider of structured finance established with support from the Singapore government that claims to have committed more $2 billion to various projects globally since inception in 2012. Last year, it teamed up with China-based Asian Infrastructure Investment Bank to jointly launch a $2 billion debt platform.

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• Topics
• Southeast Asia
• GPs
• Credit/Special Situations
• Mezzanine
• Singapore
• Pierfront Capital
• Temasek Holdings
• Sumitomo Mitsui