Bangkok-based alternative investment firm 9Basil Group has acquired Singapore-based AlteriQ Global, a boutique Asia-Pacific private credit platform, thereby foraying into the private credit market. Financial details of the transaction were not disclosed.
As part of the deal, 9Basil Group will boost AlteriQ’s investment capacity with a $50 million capital infusion, according to an announcement by the Thai company. “Adding AlteriQ’s specialised private credit strategies to 9Basil Group’s investment capabilities will enhance its range of capital solutions for enterprises in the Asia Pacific region,” it added.
9Basil Group co-founders Schwin Chiaravanont and Kris Panijpan will join the board of directors of AlteriQ.
AlteriQ’s Heng Zhi Yong, an asset-backed and supply chain financing expert in emerging markets, and Kenneth Tan, a multijurisdictional investment banking and structuring expert have joined 9Basil’s team. The two will also continue to lead AlteriQ.
Established in 2020, AlteriQ provides tailored debt financing solutions for small- to mid-sized enterprises across the Asia Pacific.
As traditional sources of financing pull back lending and capital markets become more volatile, 9Basil Group gains access to the private credit market at an opportune time.
“Private credit represents an underserved yet compelling asset class that complements our Group. Integrating AlteriQ’s specialised capabilities enables us to better meet companies’ financing needs through expanded debt and equity offerings,” said Schwin Chiaravanont, co-founder of 9Basil Group.
9Basil Group will leverage its network and resources to support AlteriQ and the two companies are expected to closely collaborate with 9Basil Group on joint initiatives. “Joining 9Basil Group unlocks opportunities to scale our tailored financing across APAC,” said Zhi Yong.
9Basil Private Equity has a Southeast Asian mandate. According to Pitchbook’s data, 9Basil had early this year invested in the Philippines-based Sourcefit, a business process outsourcing company.
