SeaTown Private Credit Fund Hits $612 Million in First Close

SeaTown Holdings International, a unit of Singapore’s state-owned investor Temasek Holdings Pte., has raised over $612 million in initial investor commitments for its third private credit fund, targeting deal opportunities across Asia.

New and returning investors in the Middle East, Japan, Taiwan and Singapore have committed to the fund’s first close, according to a statement. SeaTown Private Credit Fund III will focus on lending to companies across sectors in Asia Pacific, “targeting a net return in the mid-teens and a double-digit distribution yield to investors,” it said.