Singapore-based asset manager Seviora Holdings and Hong Kong-based private credit manager ADM Capital have agreed a strategic partnership that is expected to see Seviora take a minority stake in ADM Capital.
Further details of the partnership were not forthcoming, although Seviora noted that it had been expanding its private credit offering the region, including among mid-market firms.
“We are always on the lookout for unique and compelling opportunities to expand our product suite and capabilities. With the private credit landscape in Asia growing rapidly, Seviora has been actively seeking opportunities to invest in asset managers that add scale and expertise to our private credit franchise,” said Seviora Holdings’ CEO Jimmy Phoon.
“While the partnership remains subject to regulatory approvals and other business conditions, we are pleased that it is progressing well and are hopeful for a successful partnership completion within the fourth quarter of this year.”
“We are delighted to partner with Seviora to continue to scale our offering and engage with the vast market opportunity ahead. Culturally the teams are closely aligned with innovation being a priority,” said Christopher Botsford, founding partner of ADM Capital.
“Apac accounts for one third of global GDP and two thirds of incremental global growth, yet only seven per cent of global private credit assets is located in the region. This underscores the magnitude of private credit investment opportunities in this market, and we are excited to bring greater access for our and Seviora’s clients.”
