Daily Briefing: Lending platform Lend East to raise $68.07m in debt; Alexis shop units for sale at $10m

And former Citi managing director joins Temasek’s Pavilion Energy.

From e27:

Digital lending platform Lend East is raising $68.07m (US$50m) in debt capital from a network of unnamed family offices and credit funds in the US, Singapore and India.

It plans to use the funds for onward lending to borrowing platforms, it said in a press note. The startup has already “received its first cheque” and looks to close the round by Q3 2020.

Launched in October 2018, Lend East connects global institutional investors to alternative lending platforms in Southeast Asia and India. In other words, the platform provides accredited Institutional and high net-worth individual (HNI) investors access to alternative lenders in emerging Asia.

Read more here.

From iCompareLoan:

Two ground-floor shop units at Alexis, a six-storey mixed-use development comprising 21 commercial units and 293 apartments located at 356 Alexandra Road, has been put on sale via public tender for an indicative price of $10m, CBRE announced.

To be sold on vacant possession basis, the two freehold ground-floor shop units have a total gross floor area of 3,06sqft. It is also visible along Alexandra Road and Commonwealth Avenue. There is also public basement car park.

The price works out to about $3,259 psf based on the strata area.

Read more here.

From eFinancialCareers:

Citi managing director Jan-Peter Onstwedder has left the bank to join Temasek-owned Pavilion Energy as its Singapore-based head of risk and technology.

Onstwedder had been with Citi since 2011, according to his LinkedIn profile. He was responsible for market and credit risk for global commodities trading, and for credit risk spanning four global industries: power, energy, chemicals, and metals and mining.

He was based in London and managed teams there and in Singapore, New York and Houston. Onstwedder was also co-chair of the new product approval committee for Citi’s EMEA markets business.

Read more here.