The Private Credit Growth Fund, first introduced in the government’s budget speech in February, is among Singapore’s initiatives as it seeks to boost its presence in the burgeoning $1.7 trillion private debt space.
Apollo Global Management won the mandate to manage Singapore’s $1 billion (US$778.3 million) private credit fund targeting local high growth enterprises, according to a government portal for procurement website.
The Ministry for Trade and Industry (MTI) and Enterprise Singapore in March introduced the $1 billion Private Credit Growth Fund, which aims to provide non-dilutive customised financing for high-growth local enterprises, according to a statement then. It will announce more details about the fund by the third quarter, the statement said.
