Latest news with #GrowthFund
Business Times
6 days ago
- Business
- Business Times
Apollo wins bid for Singapore's US$1 billion private credit fund
[SINGAPORE] Apollo Global Management won the mandate to manage Singapore's US$1 billion private credit fund targeting local high growth enterprises, according to a government portal for procurement website. The Ministry for Trade and Industry and Enterprise Singapore in March introduced the US$1 billion Private Credit Growth Fund, which aims to provide non-dilutive customised financing for high-growth local enterprises, according to a statement then. It will announce more details about the fund by the third quarter, the statement said. The Private Credit Growth Fund, first introduced in the government's budget speech in February, is among Singapore's initiatives as it seeks to boost its presence in the burgeoning US$1.7 trillion private debt space. This follows the Monetary of Authority of Singapore's initiative from March, when it had sought public feedback on a proposed regulatory framework targeting the asset class. The framework aims to grant retail investors access to the private market with proper safeguards in place. Adding onto the city state's private market ambitions, Singapore's sovereign wealth fund Temasek Holdings in December said it had set up a private credit platform with an initial portfolio of about S$10 billion, consisting of direct investments and credit funds. Meanwhile, Temasek's unit SeaTown Holdings International last year raised US$1.3 billion for its second private credit fund. The firm actively lends to companies across Asia Pacific, such as to Vietnamese conglomerate Vingroup JSC's units Vincom Retail JSC and Vinfast Auto. BLOOMBERG
Straits Times
7 days ago
- Business
- Straits Times
Apollo wins bid to manage Singapore's $1 billion private credit fund
Find out what's new on ST website and app. The Private Credit Growth Fund, first introduced in February's Budget speech, targets financing for local high growth enterprises. SINGAPORE - Apollo Global Management won the mandate to manage Singapore's $1 billion private credit fund targeting financing for local high growth enterprises, according to a government portal for procurement website. The Ministry for Trade and Industry and Enterprise Singapore in March introduced the Private Credit Growth Fund, which aims to provide non-dilutive customised financing for high-growth local enterprises, according to a statement then. It will announce more details about the fund by the third quarter of 2025, the statement said. The Private Credit Growth Fund, first introduced in the Singapore government's Budget speech in February, is among Singapore's initiatives as it seeks to boost its presence in the burgeoning US$1.7 trillion (S$2.2 trillion) private debt space. This follows the Monetary of Authority of Singapore's initiative from March, when it had sought public feedback on a proposed regulatory framework targeting the asset class. The framework aims to grant retail investors access to the private market with proper safeguards in place. Adding onto the city state's private market ambitions, Singapore's state investment company Temasek in December said it had set up a private credit platform with an initial portfolio of about $10 billion, consisting of direct investments and credit funds. Meanwhile, Temasek's unit SeaTown Holdings International in 2024 raised US$1.3 billion for its second private credit fund. The firm actively lends to companies across Asia Pacific, such as to Vietnamese conglomerate Vingroup JSC's units Vincom Retail JSC and Vinfast Auto. BLOOMBERG
Time of India
16-07-2025
- Business
- Time of India
Amara Partners nears ₹800 cr debut fundraise
Amara Partners , the private equity fund launched by former Mahindra & Mahindra PE unit head Parag Shah , is set to raise its debut fund at ₹800 crore soon. The fund, which has roped in industrialist Anand Mahindra as an anchor investor, has seen participation from about 20 industrialists and their families across India. 'There is a shortage of capital for small and mid-sized companies , many of which have the vision and the ability to take India's capabilities forward. Our Growth Fund aims to be a catalytic force in this transformation,' Parag Shah told ET. The fund, which has already raised ₹650 crore from domestic pools, plans to raise about ₹150 crore from multinational executives and industry veterans, Shah said. As part of the green shoe option, Amara is launching an exclusive platform called the Amara Leadership Circle - a curated investor pool comprising CEOs and senior leaders of large Indian and multinational companies. The fund targets mid-sized companies in the manufacturing/industrials, financial services, consumer sector and healthcare. The fund has already made two investments - in auto components maker Lumax Auto Technologies and NBFC Fibe. Amara will focus on sub-segments such as precision manufacturing, auto components, electronics & semi, speciality materials and chemicals, building materials, speciality packaging. 'We have received commitments from limited partners which include 20 odd corporate and institutional families, which believe in the India manufacturing story ,' Shah said. The fund will target 10-12 investments over its lifecycle with ticket sizes ranging from $10-15 million and will have the ability to invest upto $20mn with co-investments from its LPs. On its advisory board, the fund has leaders such as Anand Mahindra, Haigreve Khaitan, M.M. Murugappan and Rafique Malik with Anand Mahindra being the anchor investor. Parag was the Managing Partner of Mahindra Partners, the $1 billion Private Equity & Venture Capital division of the Mahindra Group, which was responsible for incubation, turnaround and investments in several sectors. Amara Partners founding team consists of Piyush Soonee, a former director at Omidyar Network India & former investment professional at Mahindra Partners. India remains a priority market for PE and VC fund-raising, with domestic and global investors accelerating capital commitments. However, intensifying competition - marked by a 60-65% increase in funds active in India since 2016, and heightened LP expectations for performance, will require funds to demonstrate strong track records to secure commitments, said a recent report by Bain & Company. Fund-raising is becoming increasingly competitive, with LPs prioritizing past performance as one of the key drivers for investment, it said. Domestic funds continue to raise record capital for India, amidst a challenging environment for PE fundraising globally. Kedaara Capital raised its biggest fund (Fund IV) at $1.7 billion while ChrysCapital secured $2.1 billion for its latest fund in 2025, marking the biggest capital raise by an Indian fund. ChrysCapital also raised its Continuation Fund at $700 million.
Scoop
02-07-2025
- Business
- Scoop
Nikko AM Adds Two New Aggressive Funds To Its GoalsGetter Multi-Manager KiwiSaver Scheme
Press Release – Nikko Asset Management The new Nikko AM NZ High Growth Fund will comprise target allocations of 67% international equities, 24% Australasian equities and 7% listed properties, with just 2% allocated to cash. Addition of Milford Aggressive and new Nikko AM High Growth Fund alongside Generate Focused Growth Fund means returns-focused retirement savers can now spread their risk across three quality funds with a minimum 95% weighting to growth assets. Nikko AM NZ has responded to the call from financial advisers for greater diversification within the high growth subsector of KiwiSaver with the launch of its own new fund and the addition of Milford's Aggressive fund to its multi-manager GoalsGetter KiwiSaver Scheme. The GoalsGetter KiwiSaver Scheme, launched just over one year ago, enables advisers to curate personalised diversified portfolios for their clients from a handpicked selection of funds managed by some of New Zealand's leading fund managers. Importantly, these funds have all been pre-vetted by investment experts to assist with the selection process for advisers. The new Nikko AM NZ High Growth Fund will comprise target allocations of 67% international equities, 24% Australasian equities and 7% listed properties, with just 2% allocated to cash. It will be managed by Nikko AM NZ's vastly experienced Portfolio Manager of Diversified Funds & External Managers, Alan Clarke. The Milford Aggressive Fund, which has target asset allocations of 95% Growth – also primarily through international equities – and 5% Income has returned 10.55% p.a. before tax since inception in 2019. The GoalsGetter KiwiSaver Scheme also comprises three single-sector equity funds provided by Nikko AM and one from Generate with 100% exposure to growth assets: the Nikko AM SRI Equity Fund, Global Shares Fund, ARK Disruptive Innovation Fund and Generate Thematic Fund. Nikko AM NZ Head of Distribution, Sam Bryden, says that with Kiwis now far more knowledgeable and engaged in investment markets than when KiwiSaver first launched, it's important that providers keep pace with changing trends and consumer preferences. 'The feedback that we've had consistently from advisers since launching the scheme last year is that their clients are becoming much more comfortable with exposure to high growth funds when risk appetite and investment timeframes allow – which is more than often the case for KiwiSaver investors.' 'For the majority of KiwiSaver members who have over 20 years of saving ahead of them before retirement, the default balanced setting will not match their savings ambition and long-term investment horizons – and having now experienced investment cycles, they have a growing appreciation that with time on their side, there's no need for defensive assets within their retirement portfolio.' Certus NZ Financial Adviser, Chloe Robertson, says the ability to offer diversification across three pre-vetted, high quality aggressive funds is particularly attractive to clients with high balances who understand the need for exposure to high growth. 'Notwithstanding individual circumstance and risk profile, once you've bought your first home, we would generally advocate that you should have your KiwiSaver entirely in aggressive funds right through until at least your early to mid-fifties. Throughout this time in your life, you'll be focused on long-term outcomes and have time to keep going through investment cycles – so the question we ask clients, is why limit your savings potential with exposure to bonds or cash?' says Robertson. 'The clear benefit of the GoalsGetter KiwiSaver Scheme is that it offers two layers of risk protection through diversification: firstly through the pre-vetted diversified funds themselves, and then the ability to hedge on the unique strategies of all three.' 'For clients with larger balances still seeking exposure to high growth, I'd go so far as to say this is an essential risk mitigation measure.' The addition of the two high growth funds brings the total number of funds in the GoalsGetter KiwiSaver Scheme to 20 across six of New Zealand's leading fund managers: Nikko AM, Milford, Generate, Salt, Harbour and Pathfinder. With the recent release of the GoalsGetter app to complement a fully digital onboarding solution for advisers and their clients, it has never been easier for advisers to choose, set and track diversified KiwiSaver strategies that are personalised precisely to match their clients' savings objectives. With US$246.1 billion* under management, Nikko Asset Management is one of Asia's largest asset managers, providing high-conviction, active fund management across a range of equity, fixed income, multi-asset and alternative strategies. In addition, its complementary range of passive strategies covers more than 20 indices and includes some of Asia's leading exchange-traded funds (ETFs).
Leader Live
21-06-2025
- Business
- Leader Live
Flintshire tourism sector to benefit from new funding scheme
Known as the Flintshire Tourism Growth Fund, the scheme is now in its second phase and offers financial support to businesses that contribute to the visitor economy. The scheme is delivered by Cadwyn Clwyd and funded by the UK Government through the UK Shared Prosperity Fund. Donna Hughes, business partnerships officer at Cadwyn Clwyd, said: "The Flintshire Tourism Growth Fund is aimed at businesses that contribute to the visitor economy in Flintshire as a whole. "We have had successful applications from cafes, the retail sector, farm shops and delis – anything which is contributing to the visitor economy in Flintshire." Cariad Gins (Image: Mandy Jones) In the first phase of the programme, 36 grants totalling £462,000 were awarded. This led to the creation of 15.5 full-time equivalent jobs and the safeguarding of 117 jobs. Ms Hughes recently visited Clwydian Range Distillery to see how owners Fiona Lewis and Simon Ollman used their grant to expand the business. The distillery, based in Lixwm near Holywell, produces the award-winning Cariad Gin. The couple received more than £7,700 to purchase distilling equipment, a storage container, an ice machine and a gazebo for events. Ms Lewis said: "We couldn't have grown the business without the grant. "For so many small businesses, these grant schemes are a crucial part of their growth and development. "One of the best things about the programme is being able to contact the team so easily. "If you're stuck you can just give them a call, the support we have received was fantastic. "The grant really has made a big difference." The couple launched the distillery in 2018 after Mr Ollman suffered a brain haemorrhage in 2013 that ended his career in civil engineering. Ms Lewis said the business not only supported his recovery but also gave the family a new shared purpose. The distillery was launched in 2018 (Image: Mandy Jones) Their blackcurrant gin won gold at the Wales Distilled Awards, where Mr Ollman was also named Distiller of the Year. They have since expanded production into a dedicated distilling room and tasting space at their home. The Flintshire Tourism Growth Fund supports existing micro, small and medium-sized businesses, as well as start-ups in the tourism and visitor economy sectors. The first phase supported a wide range of projects, including EV charging points, glamping pods, kitchen upgrades, and training. The deadline for applications to the second phase is July 31. Ms Hughes encouraged businesses to apply soon. She said: "The message to businesses is you need to be quick because the deadline is at the end of July."
