Blackstone is seeking a tenfold increase of assets in its Asia-Pacific private credit business to tap a market with a growing appetite for such financing.
The US alternative asset manager aims to expand its private credit assets to at least $5 billion in the “near term” from the $500 million committed as of the fourth quarter of last year, said Paulo Eapen, who heads the operations in Europe and Asia-Pacific. Blackstone Credit began investing actively in the region in 2021.
While Asia makes up only a tiny fraction of the global private credit market, Blackstone is betting that demand will build as companies in the region increasingly look to diversify debt financing away from bank loans.
“Asia’s nascent private debt markets are set to be on the rise given the accelerating growth in private equity activities,” Mr Eapen said in an interview.
“There’s a tremendous opportunity for Blackstone Credit to contribute to the underserved Asian private debt market and address the rising financing demand.”
Read More : https://www.thenationalnews.com/business/2022/05/31/blackstone-plans-to-expand-asia-private-credit-business-to-5bn/
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