Muzinich opens new office in Singapore

The firm reached a first close of €180m for its latest pan-European private debt fund last month.

Muzinich & Co, the global corporate credit specialist, has opened its first Asian office in Singapore to strengthen its presence in the region.

The firm has appointed Eric Pictet, managing director at Muzinich & Co in Asia, to lead the new office. Pictet has held several senior positions in Europe since joining the firm in 2003. Prior to that, he also worked at JPMorgan and Franklin Templeton Investments.

“It is a measure of our commitment to Asia that we have appointed someone of Eric’s experience and seniority to establish our growing presence in the region. This will help us serve clients and…reinforce our global investment research function,” said George Muzinich, chief executive and chairman at Muzinich.

The Singapore office is the ninth addition to Muzinich’s international footprint. The firm has over $1.3 billion invested in Asian credit through a variety of strategies, which include dedicated emerging market and global strategies.

At the beginning of this month, the firm launched the Muzinich Emerging Market Debt which invests in hard currency-denominated debt – currencies commonly used in international trade and capital markets, such as the US dollar, yen, euro and sterling, with a target return of around five to six percent.

In Europe, the firm also reached a first close for its closed-ended pan-European Private Debt Fund. The fund has an investment term of eight years and has received €180 million of commitments from a range of pension funds, insurance companies and family offices across Europe. It lends to SMEs in Western Europe with an EBITDA of between €3 million and €20 million. Loan maturities are expected to be five to eight years.

The New York-headquartered firm, which was founded in 1988, manages over $30 billion of assets globally in corporate credit across public and private debt markets.