Bloomberg – Kendall Court Partners Ltd., set up by former Citigroup Inc. and Goldman Sachs Group Inc. bankers, raised $150 million for a mezzanine fund to meet rising demand for a hybrid of debt and equity financing in Southeast Asia.
The Singapore-based firm, which manages about $400 million, is more positive about the mezzanine market after the global credit crisis led to the withdrawal of debt funding by hedge funds and proprietary desks of investment banks competing in the region, Managing Partner Chris Chia said. Mezzanine financing is debt capital that gives the lender rights to convert to an ownership or equity interest in a company.
