Elham Credit Partners, the private credit arm of Hillhouse Investment, is poised to secure anchor commitments of $700m to $750m for the first close of its inaugural private credit fund, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as highlighting that the Singapore-based manager is targeting a final fund size between $900m and $1.1bn, with a first close expected as early as late June. Hillhouse and Elham declined to comment.
The launch signals Hillhouse’s strategic move to diversify its $100bn platform – which spans public equities, private equity, venture capital, real assets, and credit – by capitalising on the robust demand for non-bank lending across Asia-Pacific.
Elham’s strategy will focus on performing credit investments in profitable, mid- to large-cap companies across key regional markets such as Australia, India, and Japan. The fund is expected to target companies with strong fundamentals and limited access to traditional financing, offering flexible, risk-adjusted capital solutions.
Elham joins a growing group of managers tapping into Asia’s underpenetrated private credit landscape. Recent examples include Granite Asia, which raised over $250m for its debut credit fund, while Gaw Capital Partners and Kotak Alternate Asset Managers are each targeting $2bn for new strategies.
