SeaTown's PCF III Surpasses $900 Million Milestone Amid Heightened Asia Focus

Temasek-backed SeaTown Holdings has raised $900 million for its Private Credit Fund III, with significant demand from Asian and Middle Eastern investors. The fund is on track to meet its final closing target, despite broader market challenges. Asia's private credit market is poised for substantial growth.

Temasek-backed SeaTown Holdings has announced a significant milestone, securing approximately $900 million in commitments for its Private Credit Fund III by its second closing. This achievement follows an initial $612 million secured in August, showcasing strong investor interest from regions including the Middle East, Japan, Taiwan, and Singapore.

Eddie Ong, the deputy chief investment officer, emphasized the firm's confidence in achieving their final fundraising goals, citing robust demand for Asia-focused private credit strategies despite broader market moderation. Ong highlighted that institutional investors remain key players, with notable increases in private wealth participation.

Looking forward, Asia's private credit market is projected to expand significantly, driven by sound risk-reward opportunities. However, SeaTown is mindful of potential refinancing pressures and regional geopolitical uncertainties. Founded in 2009, SeaTown manages more than $4 billion, primarily in private equity, credit, and public markets.

(With inputs from agencies.)