The firm has established a 50/50 partnership with Keppel Capital in Pierfront Capital. The deal will allow Clifford Capital to expand its business capabilities to provide private credit and mezzanine financing solutions.
Integrated alternative investment platform Clifford Capital (CCH) has completed a 50 percent acquisition of Pierfront Capital, a Singapore-based fund manager that offers bespoke private credit and mezzanine financing solutions in real asset sectors globally, it announced in a statement on Wednesday.
The deal, which brings Pierfront under the group umbrella, builds on Keppel-Pierfront Private Credit Fund's successful track record since inception in 2016 and first close on 30 March 2020.
«With this acquisition of Pierfront, CCH also completes its re-organization into a holding company structure and creating a platform for the development of new and complementary business lines as well as operational synergies,» the statement said. Pierfront Capital will also be able to benefit from co-investment opportunities with other Group companies and leverage Clifford Capital’s management services entity to yield economic and operational synergies.
Milestone Development
Clive Kerner, group CEO, Clifford Capital Holdings, called the deal a «milestone development for CCH» as the firm develops new business lines, scales up and strengthens operational efficiencies across the Group, and said it would further its «mission to provide innovative and sustainable financing solutions focused on the underserved real assets sectors.»
«We look to leverage on CCH’s 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, Pierfront Capital, said.
