Temasek Launches $10 Billion Private Credit Entity
- Kelvin Tan
- Dec 10, 2024
- 1 min read
Temasek, Singapore’s state investment company, announced on 6 December 2024 the establishment of a wholly-owned private credit entity with an initial portfolio valued at $10 billion. This includes direct investments and credit funds.
The entity will be led by Nicolas Debetencourt, who has headed Temasek’s credit and hybrid solutions team since 2016. The team comprises around 15 credit investment professionals based in offices in New York, London, and Singapore, who were transferred from the credit and hybrid solutions division.
Temasek stated that it has been investing in credit funds for over a decade, and this new dedicated entity will help expand its credit and hybrid solutions portfolio while capturing global opportunities in the growing private credit market.
The move reflects broader trends, as the private credit market is projected to grow from US$1.5 trillion in 2023 to US$2.6 trillion by 2029, according to Preqin data. Temasek’s private credit focus complements its asset management arm, Seviora Group, which includes SeaTown Holdings International, offering private credit solutions across Asia.
Temasek, which holds a $389 billion total portfolio as of 31 March, continues to focus on long-term investments in areas such as digitalisation and sustainability.
In a related development, BlackRock, the world’s largest asset manager, announced earlier in the week that it would acquire private credit firm HPS Investment Partners for approximately US$12 billion, highlighting the growing significance of this asset class.
Original article by Bloomberg, published in The Straits Times. Read more here or click the PDF below.
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