Magic Circle law firm Clifford Chance has advised Singapore-based alternative investment firm SeaTown Holdings International on its $1.3 billion second private credit fund from limited partners including insurance companies and family offices.

Reuters quoted that SeaTown, a unit of state-owned investor Temasek's asset management arm Seviora, as saying the total commitment size of the new fund surpassed the $1.2 billion secured for its first iteration.

SeaTown has been investing in private credit for more than a decade, with over $2.5 billion in assets under management across its private credit funds.

The Clifford Chance team was led by partner Kai-Niklas Schneider, with support from private funds partner Daryl Liu, U.S. regulatory partners Jefferey LeMaster and Paul Koppel, and tax partners Richard Kalaher and Rebecca Pereira.