Clifford Chance

Clifford Chance advises SeaTown on formation of its US$1.3 billion private credit fund

Global law firm Clifford Chance has advised leading Asia-focused alternative investment firm SeaTown Holdings International (SeaTown) on the formation of SeaTown Private Credit Fund II (PCF II), a US$1.3 billion fund originating and making credit investments primarily in the Asia Pacific region.

Tony Chang, Chief Operating Officer of SeaTown said, “PCF II builds on the solid foundation and success of SeaTown Private Credit Fund I (PCF I), with a continued focus on investing in highly tailored financing solutions across Asia Pacific. We are pleased to welcome a diverse group of existing and new investors, whose overwhelming support underscores the growing recognition of SeaTown's private credit investment expertise and strategies. We would also like to thank the Clifford Chance team for their seasoned and professional advice throughout the fundraising process.”

Lead partner Kai-Niklas Schneider said, "We are honoured to bring together our global expertise in private credit to advise SeaTown on the launch of their latest fund. This transaction highlights the enormous growth potential and activity in Asian private credit, particularly over the last year, which has been driven by increasing demand for alternative financing solutions and a more favourable regulatory environment."

Kai led a cross-border Clifford Chance team in Singapore, London and New York. They include:

• Private funds aspects: Partner Daryl Liu, counsel Chloe Cheng and Luke Chen, senior associate Rebecca Liu and associate Sean Lim in Singapore;
• US regulatory and ERISA aspects: Partners Jefferey LeMaster and Paul Koppel, and associates Andrew Nelson and Thomas Koh in New York; and
• Tax aspects: Partners Richard Kalaher (London) and Rebecca Pereira (New York), and associate Jonas Vogelberg (London).

SeaTown has been investing in private credit for more than a decade, with over US$2.5 billion in assets under management across its private credit funds.