Temasek’s Seviora buys stake in private credit manager ADM Capital
Seviora Holdings has acquired a minority stake in Hong Kong-based private credit fund manager ADM Capital.
Seviora, an asset manager owned by Singaporean investment company Temasek, said that it is looking to expand its private credit offering across the Asia Pacific region, including capturing further opportunities in the underbanked and underserved middle market.
Seviora said that both firms will collaborate on ADM Capital’s sustainability-integrated investment strategy focused on mid-market corporates.
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The partnership will provide clients of both firms with access to a broader range of products across the private credit spectrum, Seviora added.
“We are always on the lookout for unique and compelling opportunities to expand our product suite and capabilities,” said Seviora’s chief executive Jimmy Phoon.
“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.”
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The deal is expected to complete in the fourth quarter of this year, subject to regulatory approvals.
The financial terms of the transaction were not disclosed.
“We are delighted to partner with Seviora to continue to scale our offering and engage with the vast market opportunity ahead,” said Christopher Botsford, founding partner of ADM Capital.
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“Culturally the teams are closely aligned with innovation being a priority. 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.”
