SG Digest: Clifford Capital raises $95m from ADB; Figtree picks 27.5% in DC Alliance

Data centre visual sourced from ScaleFlux website

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.

 

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.