SeaTown Holdings International, a prominent Asia-focused alternative investment firm and subsidiary of Temasek’s Seviora Holdings, has announced the successful first close of its SeaTown Private Credit Fund III (PCF III) with more than $612 million in capital commitments. This achievement marks a significant step in SeaTown’s expanding private credit franchise, building on the successes of its previous funds, PCF I and PCF II, to meet the growing demand for private credit opportunities in the Asia Pacific region.
Chi Kit Chai, Chief Investment Officer at SeaTown, expressed gratitude for the trust of investors, stating, “As markets evolve, private credit plays an increasingly important role in providing income-generating assets with built-in downside protection.” The fund has attracted a diverse group of investors from the Middle East, Japan, Taiwan, and Singapore, highlighting the global appeal of SeaTown’s investment strategy.
Eddie Ong, Deputy CIO and Head of Private Investments at SeaTown, noted, “What sets our private credit strategy apart is how we provide value for our investors, leveraging the team’s deep capabilities in sourcing proprietary transactions and structuring bespoke solutions across the region.” PCF III aims to deliver mid-teens net returns and a double-digit distribution yield, offering tailored financing solutions to companies across Asia Pacific.
With a sector-agnostic approach, PCF III is designed to meet the needs of income-oriented investors, providing a robust building block for multi-asset portfolios seeking diversification and structured downside protection. Clifford Chance serves as the lead fund counsel for PCF III.
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