Sun Hung Kai (SHK) Capital Partners and Pinegrove Credit Partners on Monday announced a strategic partnership to collaborate and bring venture debt solutions to Asian investors.
The two firms will focus on giving Asian institutional and private investors access to venture debt for growth-stage technology, life sciences and healthcare companies.
The partnership comes a few months after SHK Capital Partners (SHKCP), the alternative investment arm of Sun Hung Kai & Co., reported a big jump in its alternatives business from the prior year.
Tony Edwards, Deputy CEO of SHK & Co. said: “Venture debt is a rapidly maturing asset class with compelling risk-adjusted return potential.”
“Partnering with a premier platform like Pinegrove strengthens SHKCP’s ability to serve as a well-aligned conduit between sophisticated Asian capital and the world’s most innovation-led businesses.”
“As a strategic partner and investor in Pinegrove Credit Partners, we are committed to expanding the breadth of high-quality investment solutions to our clients and partners while supporting the next wave of global innovation.”
Jim Ellison, managing partner and head of Pinegrove Credit Partners said: “Our platform is built on deep connectivity across the innovation ecosystem, enabling differentiated origination and disciplined underwriting.”
“Partnership with SHKCP extends our reach into Asia through an established alternative investment platform with an aligned investment approach.”
“We look forward to working together to provide flexible financing solutions to growth-stage companies while delivering attractive, risk-adjusted outcomes for investors in the region.”
Pinegrove Credit Partners is the venture debt and private credit arm of Pinegrove Venture Partners, known for its relationship with Silicon Valley Bank.
The firm is backed by alternatives investment giant Brookfield and HRTG Partners, with Singaporean sovereign wealth fund Temasek among its anchor investors.