EFA Group reaches first close of planned $300m private debt fund

Photo by Larry Teo on Unsplash

EFA Group completed the first close of its planned $300 million direct-lending fund, with commitments from existing and new institutional investors, the Singapore-based alternative asset manager said Monday.

The fund will provide secured term loans to established companies in Southeast Asia, Australia and New Zealand, with a focus on the natural resource, manufacturing and logistics sectors, EFA Group said in a statement. Loans will include environmental, social and governance (ESG) considerations, it added.

“The strong support and commitments we received so far from both existing and new investors have been encouraging, and we were able to showcase our deal origination capabilities by deploying that capital immediately,” Xavier de Nazelle, head of private credit for EFA Group and the fund’s portfolio manager said in the statement.

“We have an extensive investor pipeline in our target markets that our team expects to execute in the coming months,” he added.

EFA Group says it has a network of over 300 borrowers to target for loans.

Francois Dotta, CEO of EFA Group, said his company’s senior management team has also “invested significantly” with its limited partners in the fund.

The final close at $300 million is expected by the end of 2020, with funds expected to come from the existing network of investors, capital allocators and via a partnership with a market specialist in Japan, EFA Group said.

The company financed more than $3 billion in transactions in 2018, according to its website.

EFA Group provides alternative financing solutions to enterprises in Asia, Middle East, Europe and Africa and currently has over $700 million of assets under management. The firm is regulated by the Monetary Authority of Singapore under EuroFin Investments Pte Ltd.

Correction: This item has been updated to correct the EFA Group’s assets under management. EFA Group no longer has a Dubai office.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.