Singapore state investor Temasek Holdings has established a private credit platform with an initial portfolio of SGD10bn (USD7.5bn), aiming to capitalise on the growing private credit market. The portfolio comprises direct investments and credit funds and will be managed by a 15-member team in New York, London, and Singapore, transferred from Temasek’s Credit & Hybrid Solutions unit. Nicolas Debetencourt, Temasek’s head of credit since 2016, will lead the platform. Temasek joins other major players in the USD2tr private credit sector, which faces risks from interest rate cuts and market saturation. Temasek’s total portfolio was valued at SGD389bn as of March, with 55% in unlisted assets. The new platform operates independently of Temasek-owned Seviora Group and its subsidiary SeaTown Holdings.