SEA Deal Ticker
Temasek's Seviora bolts Asian private credit onto US secondaries: a $400M, oversubscribed fund-of-funds bond
Seviora and Nuveen's Churchill closed a $400M collateralised fund obligation split 50-50 across Asian private credit and US junior capital, oversubscribed by US insurers hunting rated yield.
Positive-sum angle: Packaging Asian credit into an instrument US insurers can hold widens the pool of global capital that ultimately reaches Southeast Asian borrowers.