Hogan Lovells advises SC Lowy on its successful fundraising of $450million for Asia-Pacific direct lending strategy

Hogan Lovells advises SC Lowy on its successful fundraising of US$450 million for Asia-Pacific direct lending strategy

Press releases | 01 September 2022

Sydney, 1 September 2022 – Hogan Lovells has advised Hong Kong-based asset manager SC Lowy on the final close of SC Lowy Strategic Investments II, LP (Fund) at US$350 million, representing an over threefold increase in commitments raised relative to the prior fund. Alongside the Fund, SC Lowy also raised US$100 million in a parallel co-investment managed account to bring the total raise for the strategy to US$450 million.

The Fund and managed account targets select special situations investments in the Asia-Pacific region, focusing on private lending, debtor-in-possession and rescue financing, trade claims, non-performing loans, and bridge financing, with a particular focus on South Korea, Hong Kong, Australia, India, and Indonesia.

SC Lowy was started by Michel Lowy and Soo Cheon Lee, they lead a team of professionals in Hong Kong, London, Milan, Mumbai, New York, Seoul, Shenzhen, Singapore, and Sydney that have successfully invested and transacted in over US$130 billion in loans and bonds since its inception in 2009. Combined, they have 50+ years of stressed, distressed special situations and private credit investment experience across Asia-Pacific, Europe, and the Middle East.

Commenting on the fundraise, SC Lowy’s Head of Business Development, Jamie Tadelis, noted: “We are extremely proud to have expanded our LP-base to partner with world-class and astute investors across the globe. This latest fund furthers the continued growth and success of SC Lowy delivering superior, low-correlated returns to our partners and reaffirms the confidence they have in us."

The Hogan Lovells team was led by APAC Investment Funds partner James Wood (Sydney) with support from partners Nancy O’Neil (Washington D.C.), Jeremy Pickles (London), Bryan Ricapito (Washington D.C.) and Pierre Reuter (Luxembourg) – and associates Priscilla Pang (Singapore) and William Tai (Sydney).

Commenting on the fund formation, James Wood noted: “We are delighted to support SC Lowy on its highly successful fundraising, which is well-placed to capitalise on the ripe environment for private credit and special situations investments in the Asia-Pacific region”.