SC Lowy has launched a new fund specialising in direct primary lending in the Asia Pacific (APAC) region.
SC Lowy Strategic Investments IV is the third APAC private credit fund from the alternative asset manager. It will target projects and companies that lack access to traditional sources of capital in the APAC region.
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“We continue to see good opportunities in Korea and India, followed by Australia, Hong Kong, Singapore and opportunistically Southeast Asia,” said SC Lowy’s co-global portfolio manager Soo Cheon Lee.
“With the launch of SC Lowy Strategic Investments IV, the firm is poised to capitalise on the growing opportunity set in these regions.”
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SC Lowy is seeking to raise $500m (£395m) for the fund, while targeting net returns of around 14 per cent to 15 per cent. Around two-thirds of the portfolio is to be invested in senior secured facilities, with 15 per cent in second-lien loans and 15 per cent in mezzanine debt.
The new fund comes amid a pivot towards private credit for SC Lowy. Earlier this year, the asset manager announced the winding down of the its inaugural investment fund, and launched a new interval fund with the aim of capturing fast-growing private credit opportunities in high-growth regions such as the Middle East and Asia.
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