Blackstone Inc. 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 U.S. 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.
Blackstone’s move comes as most of Asia’s economies reopen as the pandemic subsides, potentially boosting financing demand. In addition, recent market volatility could present an opportunity for private funds as traditional capital pulls back. Other firms are jumping on the bandwagon, with KKR & Co. recently announcing it raised $1.1 billion for its first credit fund focused on investments in Asia, zooming in on Australia and Southeast Asia.
Read more: BNN Bloomberg
