Written reply to PQ on roll-out and take-up of Long-Term Investment Fund and Private Credit Growth Fund

Question:

Mr Mark Lee: To ask the Deputy Prime Minister and Minister for Trade and Industry (a) whether the Government can provide an update on the rollout and take-up of the (i) Long-Term Investment Fund and (ii) Private Credit Growth Fund respectively, including the current implementation status and profile of enterprises supported; and (b) whether there are plans to calibrate these funds in light of tightening global credit conditions arising from recent geopolitical developments. 

Written Answer by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong

1.                  The Government has appointed the fund managers for the Long-Term Investment Fund (LTIF) and Private Credit Growth Fund (PCGF). The fund managers are intended to provide customised financing solutions to quality companies to support their growth. The funds are in their final stages of establishment.

2.                  The launch of these funds will enable companies to access patient capital and flexible credit terms tailored to their needs as part of the suite of enterprise development tools offered by the government. The appointed private fund managers will exercise commercial discipline in deploying capital, in line with their respective mandates and prevailing market conditions. This discipline remains relevant in times of tightening global credit conditions.