IFM Joins Global Influx into Singapore Private Debt Market

Singapore private debt market growth is drawing another global asset manager, as Australian pension-fund-owned IFM Investors prepares to open an office in the city-state in March, sources said.

The move underscores Singapore’s push to build scale in the USD1.7tr private credit market and follows IFM’s partnership with the Australian government to pursue Southeast Asia investments.

It comes as Singapore sees an influx of private credit managers, with Sixth Street Partners opening an office last year and Global Infrastructure Partners, the private markets arm of BlackRock, and Pentagreen Capital expanding locally.

The government, through the Monetary Authority of Singapore, is backing the drive with a USD6bn private markets programme and SGD400m for talent development.

Hong Ern Lee will join IFM as director to source regional credit deals.