Clifford Capital
Clifford Capital is a Singapore-headquartered, Temasek-backed infrastructure credit platform that originates and arranges specialised debt financing for global infrastructure projects and distributes it to institutional investors via its proprietary Infrastructure Asset-Backed Securities (IABS) platform.
- Company typePrivate
- Founded2012
- HeadquartersSingapore, Singapore
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Clifford Capital does
Clifford Capital Holdings is a Singapore-headquartered infrastructure credit platform founded in 2012 and partially owned by Temasek. The firm originates and arranges specialised debt financing for global infrastructure projects with a Singapore nexus, distributing that credit risk to institutional investors through its proprietary Infrastructure Asset-Backed Securities (IABS) platform. Its client base spans corporate infrastructure developers (energy, transportation, ports, telecoms, data centers) and accredited / institutional investors seeking exposure to infrastructure debt via securitised products. Named corporate transactions include debt facilities and bond support for Greenko (renewables), Seatrium (offshore engineering), Mersin International Port (Turkey), Digital Edge (APAC data centers), BDx Data Centers (Hong Kong), Aster Chemicals and Energy (refinery/chemicals), and an Indian telecom tower operator.
The platform's core technology is the IABS framework, which blends developed and emerging market infrastructure assets into tranched, risk-aligned securities sold through private placements or listed offerings. Clifford Capital also operates a Green Financing Framework supporting sustainability-linked loans and green loans. Its competitive positioning rests on a public policy mandate, partial Temasek ownership, and a Singapore government guarantee on its bond issuances (AAA-rated by Moody's and S&P), giving it a privileged cost of capital relative to purely private peers. Cumulative track record disclosed by the company stands at US$14.9bn+ in financing commitments, US$4.8bn+ in IABS issued, and over US$2bn raised through public and private IABS programmes, with 2025 alone seeing IABS issuance scale past US$14bn and the energy portfolio shift from 100% fossil-fuel to overwhelmingly renewables.
Revenue is generated through a combination of arrangement and structuring fees on originated debt, underwriting and placement fees on bond and IABS issuances, and ongoing asset management fees on the securitised portfolios — i.e. a transaction-and-management-fee model rather than a balance-sheet lending model. The go-to-market is enterprise field sales with deep institutional relationships: deals are sourced and syndicated directly with corporate project owners and distributed through private placements or public securities offerings to institutional investors. Recent strategic moves include a US$1bn government-guaranteed bond priced in January 2026, the firm's largest single IABS issuance of US$705.5M in November 2025, a US$3.2bn synthetic risk transfer alongside SMBC, Blackstone, and Stonepeak Partners in December 2025, and a series of large mandated lead-arranger roles in APAC data center and chemicals financings.
Clifford Capital firmographics
Firmographics- Name
- Clifford Capital
- Legal name
- Clifford Capital Holdings
- Website
- https://cliffordcap.sg
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Clifford Capital is a Singapore-headquartered, Temasek-backed infrastructure credit platform that originates and arranges specialised debt financing for global infrastructure projects and distributes it to institutional investors via its proprietary Infrastructure Asset-Backed Securities (IABS) platform.
- Ownership category
- akta.pro rank
Clifford Capital industry classification
Industry- Product category
- Infrastructure Finance
- NAICS
- Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)
- SIC
- Asset-Backed Securities (6189), Investors, Nec (6799)
- akta.pro primary industry
- Infrastructure & Project Finance Private Debt (FSANADAH)
- akta.pro secondary industry
- Debt Capital Raising Intermediation (Private Debt/Mezzanine/Bonds) (FSAEALAM)
Keywords
Where Clifford Capital is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices1 record
Markets served
Clifford Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Others
Revenue model
- Infrastructure Debt Origination and Distribution: Clifford Capital originates specialized debt financing for global infrastructure projects with a Singapore nexus, then distributes through its IABS platform to institutional investors. Generates revenue through arrangement fees, structuring fees, and ongoing asset management fees.
- Bond Issuance Facilitation: Facilitates government-guaranteed bond offerings for infrastructure financing. Priced US$1 billion fixed-rate bond offering split into tranches with Singapore government guarantee. Revenue from underwriting and arrangement fees.
- IABS Issuances and Management: Issues infrastructure asset-backed securities to mobilize private capital for infrastructure. Scaled IABS issuances to over US$14 billion in 2025. Generates fees from structuring and managing these securities.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Clifford Capital product offering
Product offeringCore offering
Clifford Capital is a Singapore-headquartered infrastructure credit platform that originates specialised debt financing for global infrastructure projects with a Singapore nexus and distributes that exposure to institutional investors through its Infrastructure Asset-Backed Securities (IABS) platform. It serves corporate clients seeking project-level debt capital and accredited/institutional investors seeking infrastructure credit exposure, with cumulative financing commitments exceeding US$14.9 billion and over US$4.8 billion in IABS issued.
Product overview
Clifford Capital operates as a unified infrastructure credit platform consisting of three interconnected core offerings: (1) Corporate Clients - Specialised Debt Financing provides debt capital for global infrastructure projects with a Singapore nexus; (2) Institutional Clients - IABS delivers the innovative Infrastructure Asset-Backed Securities (IABS) product that mobilises private capital into infrastructure; and (3) Asset Management provides infrastructure credit products for accredited and institutional investors. The platform bridges the infrastructure funding gap by connecting project owners, banks, and institutional investors through a scalable model, with over US$14.9 billion in financing commitments and US$4.8 billion in IABS issued.
Differentiator
Problem solved
Functional benefit
Products and services
- Corporate Clients - Specialised Debt Financing Specialised debt financing solutions for global infrastructure projects with a Singapore nexus, serving project owners and corporate clients seeking debt capital for infrastructure development in energy, transportation, ports, telecommunications, and digital infrastructure.
- Institutional Clients - Infrastructure Asset-Backed Securities (IABS) Infrastructure capital market solutions delivering the IABS asset class that mobilises private capital for institutional investors, structured as public or private placements blending developed and emerging market infrastructure assets to align with investor risk appetite.
- Asset Management Unique infrastructure credit products for accredited and institutional investors, enabling them to access diversified infrastructure debt opportunities through managed infrastructure credit portfolios.
Quantifiable outcome
- Scaled IABS issuances to over US$14 billion in 2025
- +2 more outcomes
Companies that use Clifford Capital
Customer profileNamed customers6 records
Segments2 records
Ideal customer profiles2 records
Clifford Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Clifford Capital partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and flagship.
- Monetary Authority of SingaporecorePartnered with MAS on Fast-P blended finance initiative targeting US$5 billion in mobilised capital for South-east Asia's energy transition. Clifford Capital contributes to addressing projected US$240 billion funding deficit.
- B. Grimm PowerflagshipDigital Edge has a US$1 billion joint venture with B. Grimm Power for Thailand data center campus, with Clifford Capital supporting related financing structures.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
Clifford Capital competitors and assessment
Company assessmentBroad incumbents
- Asian Development Bank (ADB): Multilateral development bank with a major infrastructure finance franchise across Asia-Pacific, including private-sector infrastructure debt windows. Targets overlapping client and project universe as Clifford Capital and competes for institutional co-financing mandates.
- SMBC: Major Japanese bank with deep Asia-Pacific project finance and infrastructure debt franchise, frequently partnering with Clifford Capital on cross-border infrastructure deals including the recent US$3.2bn synthetic risk transfer transaction.
- DBS Bank: Singapore-headquartered bank that frequently acts as mandated lead arranger alongside Clifford Capital on Southeast Asia infrastructure deals. Competes for the same regional infrastructure financing mandates and has the in-house scale to do larger transactions solo.
- Macquarie Asset Management: Global infrastructure debt and equity manager with deep origination capability across Asia-Pacific infrastructure projects. Competes with Clifford Capital for both corporate financing mandates and institutional capital for infrastructure debt products, though at much larger scale.
- Brookfield Asset Management: One of the world's largest infrastructure investors with a global origination, structuring, and asset management platform spanning debt and equity. Participated alongside Clifford Capital in the US$3.2bn synthetic risk transfer and competes for institutional infrastructure debt mandates.
- International Finance Corporation (IFC): World Bank Group member institution focused on private-sector infrastructure investment in emerging markets, including Southeast Asia. Competes with Clifford Capital for both infrastructure debt origination mandates and institutional capital mobilization in EM infrastructure.
- MUFG Bank: One of Asia's largest project finance arrangers and Clifford Capital's co-financing partner, with dedicated Asia project finance leadership following its 2024 hire from Clifford Capital. Competes directly for lead arranger roles on infrastructure debt mandates across the region.
- Asian Infrastructure Investment Bank (AIIB): China-led multilateral institution focused on infrastructure investment across Asia with growing private-sector debt mobilization capabilities. Targets overlapping infrastructure client base and competes for blended finance mandates in the same Southeast Asia corridors.
Emerging players
- Stonepeak Partners: US-based infrastructure investment firm that co-participated with Clifford Capital, SMBC, and Blackstone in the US$3.2bn synthetic risk transfer transaction. Increasingly active in Asia-Pacific infrastructure debt, positioning as a growing direct peer in regional infrastructure credit.
Direct peers
- Bayfront Infrastructure Capital: Singapore-based infrastructure debt securitization platform that issues infrastructure asset-backed securities, very similar in model to Clifford Capital's IABS program. Both focus on originating, structuring, and distributing infrastructure debt to institutional investors in the Asia-Pacific region.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Clifford Capital social profiles
Digital presenceClifford Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Clifford Capital leadership team
Management profileNumber of profiles
Profiles1 record
Clifford Capital funding detail
Funding detailFunding overview
Funding rounds3 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Clifford Capital M&A and investment
M&A and investmentM&A
Investments8 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Clifford Capital
What does Clifford Capital do?
Clifford Capital is a Singapore-headquartered infrastructure credit platform that originates specialised debt financing for global infrastructure projects with a Singapore nexus and distributes that exposure to institutional investors through its Infrastructure Asset-Backed Securities (IABS) platform. It serves corporate clients seeking project-level debt capital and accredited/institutional investors seeking infrastructure credit exposure, with cumulative financing commitments exceeding US$14.9 billion and over US$4.8 billion in IABS issued.
Is Clifford Capital a public or private company?
Clifford Capital is a private company. It is classified as state government owned and is currently operating.
When was Clifford Capital founded?
Clifford Capital was founded in 2012. It employs 51 to 100 people.
Where is Clifford Capital based?
Clifford Capital is headquartered in Singapore, Singapore, in the Asia region.
How does Clifford Capital make money?
Three revenue lines are on record. Infrastructure Debt Origination and Distribution is the primary driver. The others are bond Issuance Facilitation and IABS Issuances and Management.
Who are Clifford Capital's main competitors?
Broad incumbents on record are Asian Development Bank (ADB), SMBC, DBS Bank, Macquarie Asset Management, Brookfield Asset Management, International Finance Corporation (IFC), MUFG Bank and Asian Infrastructure Investment Bank (AIIB). Stonepeak Partners is listed as an emerging player. Bayfront Infrastructure Capital is listed as a direct peer.
Does Clifford Capital have an API?
No public API is recorded for Clifford Capital.
What industry is Clifford Capital in?
Clifford Capital's product category is Infrastructure Finance. Its primary akta.pro industry code is FSANADAH, Infrastructure & Project Finance Private Debt, with a secondary code of FSAEALAM, Debt Capital Raising Intermediation (Private Debt/Mezzanine/Bonds). Its NAICS code is 523 and its SIC code is 6189.