$35 Billion Corporate Credit Investment Firm Muzinich & Co Announced 1st Close of $500 Million Asia Pacific Private Debt I Fund, Anchor Investor is DB
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$35 Billion Corporate Credit Investment Firm Muzinich & Co Announced 1st Close of $500 Million Asia Pacific Private Debt I Fund, Anchor Investor is DBS with $200 Million and 80% from Institutional Investors & 20% from Family Offices 7th July 2023 | Hong Kong
Muzinich & Co, a corporate credit investment firm with $35 billion AUM (Assets under Management), has announced the 1st close of the Muzinich & Co $500 million Asia Pacific Private Debt I Fund, with DBS as anchor Investor ($200 million) and 80% of the $500 million from institutional investors & 20% from family offices. The Muzinich APAC Private Debt Fund is focused on private debt solutions, providing flexible financing to lower middle-market companies. DBS announcement in 2021: “DBS is expected to anchor up to USD 200 million or 40% of the total fund size, whichever is lower. Alongside DBS’ commitment, DBS will have representation on the Fund’s Investment Committee and Advisory Committee. The Fund’s objectives are to 1) Generate high recurring cash income with capital appreciation potential while minimising credit impairments; 2) Build a diversified portfolio across geographies and industries; and 3) Incorporate an Environmental, Social and Governance (ESG) conscious approach towards investments.” Piyush Gupta, DBS CEO: “The special situations space is already well-established in the US and Europe. But in the Asia Pacific, there is still room for further penetration, especially now, when more compelling opportunities arise in Asia as it gradually recovers from the pandemic. This fund can play an integral role in bridging the financing gap faced by businesses that have been dislocated by the disruptions, complemented by our already established Fixed Income franchise in deal sourcing and meeting more bespoke funding and investment needs across Asia.” More info below
“ $35 Billion Corporate Credit Investment Firm Muzinich & Co Announced 1st Close of $500 Million Asia Pacific Private Debt I Fund, Anchor Investor is DBS with $200 Million and 80% from Institutional Investors & 20% from Family Offices “
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$35 Billion Corporate Credit Investment Firm Muzinich & Co Announced 1st Close of $500 Million Asia Pacific Private Debt I Fund, Anchor Investor is DBS with $200 Million and 80% from Institutional Investors & 20% from Family Offices
DBS Singapore June 2021 – DBS Group Holdings Ltd today announced that it has entered into an agreement to be an anchor investor in Muzinich Asia Pacific (APAC) Private Debt I (the “Fund”). The investment in the private debt fund is in line with the Group’s strategy of investing in new revenue and growth opportunities arising from special situations opportunities created by the pandemic.
Overview of the Investment
DBS is expected to anchor up to USD 200 million or 40% of the total fund size, whichever is lower. Alongside DBS’ commitment, DBS will have representation on the Fund’s Investment Committee and Advisory Committee.
Background on Muzinich APAC Private Debt Fund
Muzinich APAC Private Debt Fund is focused on private debt solutions targeted at lower middle-market companies and is managed by Muzinich and Co., a privately-owned international investment firm with total assets under management (AUM) amounting to USD 39.3 billion.
The Fund’s objectives are to:
- Generate high recurring cash income with capital appreciation potential while minimising credit impairments;
- Build a diversified portfolio across geographies and industries; and
- Incorporate an Environmental, Social and Governance (ESG) conscious approach towards investments.
DBS’ Investment Rationale
The Investment will offer DBS the following strategic benefits:
- Provides growth exposure to recovery opportunities in APAC, which is one of the world’s fastest growing regions; APAC GDP is growing at 4.8% per annum vs 1.5% in Europe and 2.1% in North America;
- Extend and diversify credit risk participation beyond DBS’ traditional debt portfolio;
- More active involvement in the fund activities (i.e. through participation in the Fund’s Investment and Advisory Committees) to build up product know-how in the special situations space;
- ESG-focused investment approach aligns with DBS’ focus to support corporates in adopting sustainable financing.
About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
About Muzinich & Co.
“Muzinich & Co.” and/or the “Firm” referenced herein is defined as Muzinich & Co., Inc. and its affiliates. Muzinich & Co. is a privately owned, institutionally focused investment firm specializing in public and private corporate credit. The Firm was founded in New York in 1988 and has 14 offices in the US, Europe and Asia. Muzinich offers a broad range of corporate credit funds across both developed and emerging markets and manages US$37.4bn (as of 31 January 2023) in fixed income credit assets. Muzinich & Co. has been an investment manager signatory of the UN supported Principles for Responsible Investment (PRI) since 2010. The PRI is the world’s leading proponent of responsible investment. It works to understand the investment implications of environmental, social and governance (ESG) factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions.
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