The Singapore Government established an Economic Strategies Committee (ESC) to formulate strategies to position Singapore for the next phase of economic growth, including the infrastructure and maritime sectors. The ESC identified that Singapore-based companies faced constraints in their expansion to overseas markets, including their access to and availability of cross-border financing


Clifford Capital Pte Ltd was established, focusing on delivering project finance and asset‑backed finance solutions for clients with a nexus to Singapore. We initially focused on project finance and asset‑backed finance for the infrastructure and offshore marine sectors, where Singapore-based companies have globally competitive strengths


Clifford Capital Pte Ltd commences operations and becomes profitable in 2014


Pierfront Capital was established, a private credit and mezzanine financing platform focused on the infrastructure and real assets sector, to meet the increasing demand from financial sponsors and corporates for specialist intermediate capital to fit the financing needs of real asset owners


Clifford Capital arranges Asia’s first ever infrastructure project finance loan securitisation transaction, structured and executed via a special purpose vehicle issuer, Bayfront Infrastructure Capital. This created a new asset class to facilitate institutional investor access to infrastructure debt. Strong demand was seen from a variety of institutional investors including insurance companies, pension funds, endowment funds, family offices, specialised asset managers as well as individual sophisticated investors


Pierfront Capital enters a strategic 50/50 partnership with Keppel Capital


Bayfront Infrastructure Management was established, a permanent distribution platform for infrastructure and project finance loans with the Asian Infrastructure Investment Bank as a strategic partner with a 30% stake


Clifford Capital Holdings created as a holding company for its three platforms – Clifford Capital Pte Ltd, Pierfront Capital and Bayfront Infrastructure Management


The Asian Development Bank becomes a new shareholder in Clifford Capital Holdings with a US$95 million strategic investment

Bayfront Infrastructure Management prices US$401.2 million infrastructure asset-backed securities transaction through Bayfront Infrastructure Capital II Pte. Ltd. (“BIC II”), with a dedicated sustainability tranche

Bayfront Infrastructure Management prices its third US$402.7 million infrastructure asset-backed securities transaction through Bayfront Infrastructure Capital III Pte. Ltd. (“BIC III”)


Pierfront Capital announces final close of the Keppel-Pierfront Private Credit Fund (the “Fund”) with c.US$700 million of investable capital raised from global institutional investors


Clifford Capital celebrates its 10th year anniversary at The Fullerton Hotel Singapore. Senior Minister Tharman Shanmugaratnam and Temasek Holdings CEO Dilhan Pillay Sandrasegara graced the event as Guests-of-Honour

Looking Ahead

We remain fully committed to developing innovative and sustainable long-term financing solutions that address key industries’ needs and complement mainstream markets, to catalyse the development of a global infrastructure financing hub in Asia