Seviora Group, an asset management group fully owned by Temasek, Singapore, has agreed to acquire a minority stake in ADM Capital, a Hong Kong-based private credit fund manager, according to a July statement.
The deal is expected to be completed by the end of this year.
A Seviora spokesperson declined to comment on how large the stake is and the acquisition price. Further details will be revealed after the deal is completed, the statement said.
Seviora, which manages $52 billion in assets, plans to grow its private credit offerings in the region and collaborate with ADM Capital to build on its sustainability-integrated investment strategy focused on mid-market corporates.
ADM Capital manages $1.7 billion in assets and has invested $6 billion across 220 loans since it was launched 25 years ago. The fund manager is active across developed and emerging markets in Asia Pacific.
“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. 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,” Seviora Holdings’ CEO Jimmy Phoon said in the statement.
