CNPLaw LLP (“CNP”) acted as counsel to the investment manager in drafting the fund documents for two sub-funds of International Business Capital VCC, a Singapore-incorporated variable capital company, that invests private credit in private fixed-income securities and credit instruments as well as in pre-IPO companies.
The VCC is managed by Singapore-based Lucerne Asset Management Pte. Ltd. (“Lucerne”), which was established in 2016 as a Singapore subsidiary of an Australian investment house. Lucerne holds a capital markets services fund management licence in the accredited investor/institutional investor category.
Mr Bill Jamieson, Partner at CNP said:
“We are delighted to continue supporting Lucerne in the launch of the VCC’s second sub-fund, and assisting with the addition of a share class to the VCC’s first sub-fund. We have seen growing interest in private credit funds in recent years amid the retreat of banks from lending markets, and expect that there will be continued demand for such investment opportunities as private credit helps drive economic growth in Asia.”
The lawyers involved in these transactions were Bill Jamieson and Tan Wee Liang
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