Singapore’s state investment firm, Temasek Holdings, has unveiled a new private credit entity with an initial portfolio valued at SGD10bn ($7.5bn), marking a significant push into the rapidly expanding private credit market.
The portfolio includes direct investments and credit funds, reflecting Temasek’s strategy to diversify and capture opportunities in the booming asset class.
Temasek’s private credit arm will be led by Nicolas Debetencourt, who has headed the firm’s credit and hybrid solutions team since 2016. The team, consisting of 15 credit investment professionals, will operate across New York, London, and Singapore.
According to Preqin, the global private credit market is projected to grow from $1.5tn in 2023 to $2.6tn by 2029. This surge in interest has also attracted major players like BlackRock, which recently announced a $12bn acquisition of private credit firm HPS Investment Partners.
In a press statement, Tamasek said: “This dedicated entity allows us to enhance our credit and hybrid solutions strategy, leveraging our experience and expanding our reach in this evolving market.”
