SeaTown Holdings International, a subsidiary of Singapore’s Temasek’s asset management group Seviora Holdings, announced the final close of its SeaTown Private Credit Fund II (PCF II) on Tuesday, securing over USD1.3bn in capital commitments. This marks an increase from the USD1.2bn raised for its predecessor, PCF I, further driving the firm’s private credit strategy in Asia. The fund attracted interest from a diverse group of new investors, including insurance companies, endowments, and a prominent Middle Eastern institutional investor. PCF II aims to provide tailored financing solutions with a focus on income, capital preservation, and diversification, targeting mid-teens net returns and double-digit distribution yields. With PCF II’s close, SeaTown’s private credit strategy now manages over USD2.5bn in assets.