Keppel to acquire 50% of Temasek-backed Pierfront Capital for $7.8m

Keppel to acquire 50% of Temasek-backed Pierfront Capital for $7.8m

Commercial buildings in the central business district are illuminated at dusk in Singapore. Photographer: Brent Lewin/Bloomberg

Singapore-listed conglomerate Keppel Corporation Limited (Keppel) has agreed to acquire a 50 per cent stake in Pierfront Capital Fund Management, an independent investment company offering junior debt, mezzanine, and structured financing solutions.

In a disclosure, Keppel said its wholly-owned subsidiary, KC Management One Pte Ltd, has signed a conditional share and purchase agreement with Pierfront Capital to acquire the shares from Pierfront Capital Mezzanine Fund (PCMF) for a total of $7.8 million.

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