M&G builds Asia-Pacific private credit team in Singapore

The London-headquartered firm intends to expand its origination effort in the region to source assets locally.

M&G Investments is building a Singapore-based Asia-Pacific origination team to expand its push into credit and alternatives in the region. Matthew O’Sullivan, formerly the firm’s co-head of asset-backed securities in London, was appointed last week as head of Asia-Pacific origination, based in Singapore.

O’Sullivan told Private Debt Investor that, as of 10 December, the Asia-Pacific credit and alternatives origination team has three people.

On the team’s origination strategies for the region, O’Sullivan said: “We are looking to apply the full flexibility of the M&G private asset strategies and as such, we will be looking at both senior and subordinated debt, and across multiple asset classes including leveraged finance, real estate debt, infrastructure debt [and] structured credit.”

John Foley, chief executive of M&G plc, disclosed that the firm had been planning to build local capabilities in different areas of investment, including private debt, when speaking at the M&G plc Investor and Analyst Conference on 27 September.

“To satisfy client demand for private assets, we will add to our origination capabilities by building teams who can source assets locally, both in the US and Asia,” Foley said.

M&G Investments is M&G plc’s global brand for asset management. M&G plc was formed in 2017 through a merger of Prudential’s savings and insurance operation across the UK and continental Europe.

In March 2018, Prudential announced its intention to demerge M&GPrudential, resulting in two separately-listed companies – M&G plc and Prudential – on the London Stock Exchange.

M&G plc completed its demerger from Prudential on 21 October.