Singapore’s IFS Asset Management, a subsidiary of IFS Capital, has launched its second private credit fund in a bid to empower the growth of small and medium enterprises (SMEs) in the city state and in Asia.
The new fund leverages the credit expertise and underwriting discipline of both IFS Capital and IFS Asset Management, IFS Asset Management says in a statement on July 1.
While the strategy includes the flexibility to deploy across Asia Pacific, the primary focus of the fund remains on Singapore-based SMEs, IFS Asset Management says.
Charis Liau, chief investment officer of IFS Asset Management, says private credit has traditionally been an opaque and difficult-to-access asset class.
“We are now seeing it evolve from a niche to a core component in a diversified portfolio,” she says.
IFS Asset Management has assets under management of over S$40 million (US$31.56 million).