Singapore-based debt capital provider Clifford Capital Holdings has raised $95 million from ADB through direct and indirect investment while Figtree has picked up a 27.5 per cent stake in DC Alliance.
Clifford Capital Holdings raises $95m from ADB
Clifford Capital Holdings has raised $95 million from the Asian Development Bank (ADB) to support the growing demand for sustainable infrastructure financing in Asia, according to the company’s press statement.
The funding is conducted through a $50-million direct investment from ADB and a $45-million financing from Leading Asia’s Private Infrastructure Fund (LEAP), which is administered by ADB.
ADB will have 6.3 per cent shareholding in CCH post-closing of the transaction and a pro forma interest of 10.8 per cent once all equity capital committed has been fully deployed.
“The strategic investment by ADB will augment the Group’s ongoing efforts to provide diversified financing solutions for underserved segments in the real assets sectors and help to consolidate Singapore’s position as the leading infrastructure financing hub in Asia,” said Kai Nargolwala, Group Chairman of CCH.
CCH provides innovative and sustainable financing solutions to complement mainstream markets across the entire debt capital structure. The firm’s other shareholders include Temasek Holdings, Prudential Assurance Company Singapore, Sumitomo Mitsui Banking Corporation, Standard Chartered Bank, DBS Bank, and John Hancock Life Insurance Company (Manulife).
Figtree Holdings acquires 27.5% stake in DC Alliance
Singapore-listed real estate developer Figtree Holdings Limited is acquiring a 27.5 per cent stake in DC Alliance, a Singapore-based data centre owner-cum-operator, through a seed capital investment of A$2.75 million (S$2.73 million), according to a press statement.
Following the deal, DC Alliance’s share capital will be increased from A$2.875 million to A$10.0 million. Figtree will also take a board seat in DC Alliance.
Figtree is well-placed to accelerate DC Alliance’s growth as it plans its data centre network expansion in the Asia-Pacific. “With its complementary skills in real estate across the Asia-Pacific, there is a lot of synergy among the two companies to accelerate our growth,” said Roy Wong, Executive Chairman of DC Alliance.
Aside from Figtree, private equity firm ESW Holdings has also invested into DC Alliance.