Singapore-headquartered Elham Credit Partners, the private credit arm of Hillhouse Investment Management, has partnered with Digital Climate Group (DCG), the digital investment bank unit under Daiwa Securities, for deal origination in Asia, with a focus on Japan’s mid-market sector.
Under the framework, DCG will serve as Elham’s origination partner for institutional private credit opportunities in Japan, leveraging the relationship with its strategic investor Daiwa Securities, according to a statement.
The collaboration combines DCG’s technology-supported origination and structuring platform with Elham’s regional underwriting expertise and capital deployment capabilities. The two organisations intend to develop a scalable framework to link local origination networks with global institutional investors.
Elham and DCG will further explore cross-border opportunities between MENA and Asia, joint business development initiatives, portfolio value enhancement, and expanded institutional LP access.
“This partnership reflects our shared belief that Asia’s private credit markets are entering a transformative phase, with substantial growth potential in the coming years,” said Elham’s partner and co-head Siddhartha Hari.
In September, Daiwa Securities announced its investment in DCG with an aim to bridge the impact financing gap across Asia and the Middle East.
Meanwhile, Elham is understood to target about $1 billion for its inaugural private credit fund. In May, Bloomberg reported that the firm might near a first close of up to $750 million.
Elham recently invested in Indian advertising tech company InMobi.
Elham has joined a spate of global asset managers eyeing the growing private debt opportunities in Japan. KKR and Blackstone both made their first hires for Japan private credit in recent months, following Apollo’s footstep last year.
Other global firms that have set up presence in this market include Blue Owl and Ares Management.
