Private Debt Investor

Feb 1st, 2021

by Andy Thomson

The Hong Kong-and Singapore-based manager’s fundraising is progressing well as LPs eye Asia’s recovery from the pandemic.

Hong Kong- and Singapore-based fund manager OCP Asia has moved past the $500 million target for its fourth private debt fund, according to market sources, and is hoping to reach its hard-cap of $800 million by the end of March.

The firm – which provides private credit and secured direct lending on a pan-Asian basis, including in Australia – now has more than $3 billion in assets under management. It invests in corporates, real estate and in Australian companies with multi-jurisdictional assets.

The firm’s previous fund, OCP Asia Fund III, beat a $500 million target to close on $511 million in 2018. Its Orchard Landmark II fund closed on $200 million in 2016.

OCP Asia Fund IV, which was launched in December 2019, received a $50 million commitment from Helena, US-based Montana State Board of Investments, according to Private Debt Investor data.

The firm has not disclosed the identity of other investors but it is understood they are mostly US and European institutions seeking to capitalise on panAsian economic growth. Economies in Asia are widely considered to have handled the pandemic well and are now rebounding from the crisis.

Dealflow in the region appears to be strong and firms with a presence in key markets are able to continue managing and growing their businesses effectively, notwithstanding the international travel bans that are currently in place.