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Laxman Pai, Opalesque Asia: APAC-based private debt AUM stands at $78bn as of December 2021 and has grown at an average rate of 29% over the past five years, faster than the global average AUM growth rate for private debt of 17% over the same period, said a study.
Still, APAC-based AUM constitute just 6% of the global total of $1.25tn, indicating that there is plenty of room for growth, said the 'Preqin Territory Guide: Private Debt in APAC 2022'.
"Private debt in APAC is nascent but expanding, as tighter bank lending conditions lead to increased demand for capital from companies," the report stated.
Among APAC countries, China has the highest private debt AUM at $37bn.
Private debt fundraising by Asia-focused managers was buoyant between 2019 and 2021, where annual aggregate capital amounts raised were between $9.4bn and $12bn. Yet, these figures only constitute between 4% and 9% of global private debt fundraising amounts.
This year, 19 Asia-focused private debt funds have raised $6.7bn to date. A handful of large global private debt funds closed in Q2 2022, bumping up the quarterly aggregate capital raised to a record high of $5.7bn, Preqin said.
These funds include Bain Capital Special Situations Asia II (SSA II), which doubled the $1bn that the predecessor, Bain Capital Special Situations Asia, raised in 2017, closing in June 2022 at $2.1bn to become the largest APAC-focused private debt fund closed in the last five years; and mezzanine financ...................... To view our full article Click here
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