SeaTown Holdings International, an Asia-focused alternative investment firm and wholly-owned subsidiary of Temasek’s asset management group Seviora Holdings, has announced the first close of the SeaTown Private Credit Fund III (PCF III) with more than $612 million in capital commitments.
This marks the latest milestone in SeaTown’s growing private credit franchise, building on the successful deployments of PCF I and PCF II to meet rising investor demand for Asia Pacific’s dynamic private credit opportunities, the firm said in a statement on Wednesday.
“We are thankful for the continued trust of our investors. As markets evolve, private credit plays an increasingly important role in providing income-generating assets with built-in downside protection,” said Chi Kit Chai, Chief Investment Officer, SeaTown.
“Our private credit strategy’s continued success reflects the strong conviction we share with our investors – that Asia Pacific (APAC) offers a uniquely attractive landscape for performing credit,
“With our strong track record, experienced teams and unparalleled ecosystem access, we are excited to continue capturing compelling private credit opportunities across APAC and helping investors build resilient portfolios that can navigate diverse market cycles,” he added.
PCF III’s first closing drew interest from new and returning investors, highlighting strong investor confidence in SeaTown’s proven ability to repeatedly source, structure and execute complex deals across APAC, said the statement.
It also reflects SeaTown’s commitment to fostering and expanding enduring investor relationships in the region and globally. Notably, the fund secured commitments from an increasingly diverse and global group of investors across the Middle East, Japan, Taiwan and Singapore.
“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,
“With PCF III, we look forward to continuing to provide investors access to differentiated, income-generating opportunities across Asia Pacific, seeking to deliver consistent, risk-adjusted returns,” said Eddie Ong, Deputy Chief Investment Officer and Head of Private Investments, SeaTown.
Carefully designed to meet the evolving needs of income-oriented investors, PCF III adopts the same disciplined and hands-on approach as its predecessors.
The private credit strategy is well-positioned to capture proprietary performing credit opportunities in APAC while providing highly tailored financing solutions.
It offers an attractive building block for multi-asset portfolios seeking income, diversification, and structured downside protection.
The strategy employs a sector-agnostic approach, aiming to deliver compelling mid-teens net return and double-digit distribution yield for investors over the life of the fund.
Clifford Chance serves as the lead fund counsel for PCF III.
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