Singapore-listed private equity fund company TIH Ltd.’s wholly owned subsidiary Kilian Court has agreed to invest around US$6.5 million in ASM Connaught House Fund V (CHF V), according to a filing to SGX Friday.
“This is very much in line with TIH’s goal to achieve long-term growth and provide a steady stream of dividends to shareholders. We will continue to apply our strategy to source for opportunities in special situations, corporates deleveraging and non-core secondary assets at attractive valuations to grow our income streams,” Kin Chan, chairman of TIH, said in the statement.
CHF V, managed by Hong Kong-based Argyle Street Management, invests mainly in illiquid special situations investments in Asia with a focus on high yielding structured lending offering downside protection, the filing said.
The fund may invest in shares of listed and unlisted companies, closed-end investment funds, convertible debt instruments, deep discount debt instruments, portfolios of bank loans or distressed assets, and private structured/mezzanine loans, mainly in Southeast Asia and Greater China, with a limited exposure to Australia, India, Europe and America, the filing said.
TIH Investment Management, a wholly owned subsidiary of the group, will provide non-discretionary investment advisory services to the fund’s general partner, the filing said.
Argyle Street Management is a controlling shareholder of TIH, with a 21.30 percent stake as of 22 April 2021, according to data from SGX.
TIH Ltd. is a closed-end fund set up in 1994 and managed by a private equity investment team.
The group has previously had fund advisory mandates for ASM Connaught House Fund II and ASM Connaught House Fund III, the filing said.