Investments

CreditEase Wealth Management invests in US lending platforms

CreditEase Wealth Management has invested USD30 million in two transactions with OnDeck and LendingHome, after making its first investment in Avant and Prosper last year.

The Chinese firm’s Offshore Private Credit Fund (OPCF) raised USD80 million from its Chinese clients in late 2015 – to be fully deployed by end March 2017.

Over the last several months, the firm has conducted a thorough screening process where it has looked at more than 90 different lending platforms and fund managers across the world. 

“Since the market was volatile in 2016, we have been particularly diligent in our investment programme. As one of the world's leading lending platforms with USD33 billion in loans to over one million borrowers in China, we maintain rigorous due diligence processes and stringent data analysis by leveraging on CreditEase’s long track record and expertise,” said Richard Williamson, head of offshore business at CreditEase Wealth Management.

OPCF, which is believed to be the first Chinese offshore fund to invest in loans issued by western platforms, provides Chinese HNW and mass affluent investors the opportunity to spread risks across different geographies with exposure to Western private credit.