Singapore’s SeaTown raises $1.3 billion for second private equity fund By Reuters

(Reuters) – Singapore-based alternative investment firm SeaTown Holdings International said on Tuesday it had raised more than $1.3 billion for its second private equity fund from limited partners including insurance companies and family offices.

SeaTown, a unit of state investor Temasek’s Seviora asset management division, said the new fund’s total commitment size exceeded the $1.2 billion secured for its first version.

The firm added that one of the fund’s investors includes a leading institutional investor from the Middle East, without disclosing further details about the investors.

It said it will provide financing solutions, including lending, to firms in the Asia-Pacific region, while targeting mid-teens net returns and double-digit distribution returns for investors over the life of the fund.