The Credit Crunch 09/04/23

SeaTown Holdings, a Singapore based investment manager, announced it is raising $1.5 billion for its new Asia-focused private credit fund. SeaTown’s first private credit fund, launched in December 2019. The fund is aiming for an internal rate of return of 14% to 15% and a multiple on invested capital at 1.4x.  More here

Kotak Investment Advisors (KIA), an Indian based lender, announced the launch of its $1.6 billion second special situations fund. The fund invest in special situations and stressed assets opportunities in India. More here

Polestar Capital, a Dutch based impact investor, announced further funding to its $203 million Circular Debt Fund. The fund lends to sustainable projects which have the potential to create a worldwide ecological impact. Such projects include waste reduction, recycling as well as the replacement of fossil fuels. More here

Applied Real Intelligence, a Californian based investment manager announced the first close of its $125 million venture debt fund. The fund will provide short maturity, floating-rate loans, with equity participation rights, to venture-backed startups in North America. The fund will conduct rolling capital closings throughout the year and will hold its final close before year-end. More here