AIMCo Commits to Second Close of Keppel-Pierfront Private Capital Fund
Edmonton, Alberta – Alberta Investment Management Company (“AIMCo”) on behalf of certain of its clients announced today its commitment to the second close of the Keppel-Pierfront Private Capital Fund (the “Fund”).
The Fund provides loans to companies with defensive infrastructure-like business models, across a wide range of real asset sectors in Asia Pacific, including, but not limited to renewable and other core infrastructure, energy, transportation, telecommunications, social infrastructure, and logistics.
“We are excited to support and partner with Pierfront Capital and their partners on this investment,” said Mark Yaniw, Portfolio Manager, Infrastructure & Renewable Resources. “This investment is a strong recognition of the growing opportunities for AIMCo’s clients that lie in Asia, especially when it comes to advantageous infrastructure projects within the private credit space.”
The Fund is jointly sponsored by Clifford Capital Holdings, a specialist financing and distribution platform for real assets globally across the debt capital structure. The Fund is also sponsored by Keppel Capital, the asset management arm of Keppel Corporation Limited. Both companies are headquartered in Singapore.
Inclusive of AIMCo’s commitment, the Fund’s total size after the second close will be US$455 million. This includes the commitment of the two sponsors, Keppel Capital and Clifford Capital Holdings, who have each committed US$100 million to the previously held first close.
About Pierfront Capital
Established in 2016, Pierfront Capital is a Singapore-based fund manager that offers bespoke private credit and mezzanine financing solutions in real asset sectors. As an independent investment company offering junior debt, mezzanine and structured financing solutions in capital intensive businesses, Pierfront Capital focuses on providing loans to companies with defensive infrastructure-like business models, across a wide range of real asset sectors in Asia Pacific, including, but not limited to renewable and other core infrastructure, energy, transportation, telecommunications, social infrastructure and logistics.
Pierfront Capital is owned on a 50/50 basis by Clifford Capital Holdings and Keppel Capital.
About Clifford Capital Holdings
Clifford Capital Holdings is a specialist financing and distribution platform for real assets globally across the debt capital structure, headquartered in Singapore. It provides innovative and sustainable financing solutions to complement mainstream markets across the entire debt capital structure.
The Group aims to build a globally competitive alternative financing platform closely aligned to Singapore’s economic growth initiatives in the infrastructure, maritime and other real assets sectors, and works in close collaboration with Singapore government agencies such as the Monetary Authority of Singapore, Economic Development Board, Maritime and Port Authority of Singapore and Enterprise Singapore.
Its shareholders comprise Temasek Holdings, Prudential Assurance Company Singapore, Sumitomo Mitsui Banking Corporation, Standard Chartered Bank, DBS Bank, John Hancock Life Insurance Company (Manulife) and the Asian Development Bank.
About Keppel Capital
Keppel Capital is a premier asset manager in Asia. It is the asset management arm of Keppel Corporation, one of Singapore’s flagship multinational companies with a global footprint in more than 20 countries. Keppel Corporation provides solutions for sustainable urbanisation, focusing on energy & environment, urban development, connectivity and asset management. With assets under management of approximately S$37 billion as at end-2020, Keppel Capital has a diversified portfolio that includes real estate, infrastructure, data centres and alternative assets in key global markets.
Keppel Capital aims to create value and deliver sustainable returns for institutional and retail investors through a range of products including listed REITs, business trusts, private funds, separate accounts and pooled investment vehicles.
About Alberta Investment Management Corporation
AIMCo is one of Canada’s largest and most diversified institutional investment managers with more than $150 billion of assets under management. AIMCo invests globally on behalf of 32 pension, endowment and government funds in the Province of Alberta.