Kadita Partners closes first fund with $100m
Private credit firm Kadita Partners is reported to have raised more than $100m (£79.2m) for the first close of its maiden investment fund.
According to Bloomberg, a source close to the Singapore-based firm said it completed the first close in early May but has an ambition to eventually raise up to $250m.
Kadita Partners is led by managing partners Xavier De Nazelle and Matthieu Simoncini. Prior to joining Kadita Partners both directors held private credit roles at trade financing firm EFA Group.
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According to the firm’s website, De Nazelle grew up in Singapore and has more than 15 years of private investment experience in Asia, with the last 10 dedicated to private credit in the region. Prior to co-founding Kadita, and EFA Group, he worked at Aloe Private Equity.
Simoncini relocated to Singapore 10 years ago and has held various private credit roles over that time, across investments, operations, and risk management. Prior to co-founding Kadita, and EFA Group, he worked at SBM Offshore.
The firm’s website said that it is focusing on sectors including real assets and infrastructure, energy security and transition, and resources management and logistics.
Bloomberg said a filing with the US Securities and Exchange Commission dated 2 May shows Kadita Partners Pte is a promoter for Kadita Credit Solutions 1 LP, a pooled investment fund set up under Rule 506(b).
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In March, alternative asset manager KKR highlighted the opportunity presented by the Asia Pacific region, remarking that it “continues to march to a different economic beat compared to both Europe and North America”.
The firm said the region was rapidly growing, with an increased number of issuers in need of financing amid a lack of supply. “We believe issuers will fill the gap using both private and broadly syndicated credit markets,” it added.
Last month, Hong Kong-based alternative credit manager Tor Investment Management raised $310m for its third Asia opportunities private credit fund.
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