Singapore’s state-owned Temasek is expanding its alternatives efforts with the establishment of a private credit platform.
Temasek is forming a wholly-owned private credit platform, according to a statement. There will be an initial portfolio of about S$10 billion ($7.5 billion) consisting of direct investments and credit funds.
The portfolio will be managed by a team of around 15 credit investment professionals across offices in New York, London and Singapore, who have been transferred from Temasek’s credit & hybrid solutions team. The platform will be led by CEO Nicolas Debetencourt, who has been the head of credit & hybrid solutions since 2016.
Growing Asset Class
As stricter regulations increase the cost of traditional financing, lending by non-bank institutions has expanded leading to increased investment demand in private credit. According to Preqin data, the asset class is projected to grow from $1.5 trillion at end-2023 to $2.6 trillion by 2029.
«As it continues to shape a resilient and forward-looking portfolio, Temasek has set up a dedicated platform to enhance its ability to scale its credit and hybrid solutions portfolio and capture global private credit opportunities,» Singapore’s state investment company said. «This is in addition to a Temasek asset management business, Seviora Group – which includes SeaTown Holdings International which offers private credit solutions in Asia.»
