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Private credit in Asia-Pacific forecast to surge in 2024



Private credit firms, including Apollo Global Management and Blackstone, foresee a growth exceeding 10% in Asia-Pacific lending for 2024, focusing on high-quality borrowers. This shift comes as banks reduce their financing roles, paving the way for private credit’s rise in education, healthcare, and consumer sectors. The global market, now a USD1.7tr entity, offers attractive returns, with Asia’s growing, but underserved market spotlighted by significant investments, such as Goldman Sachs’ USD1bn from Mubadala for regional deals. The demand is expected to spike with an increase in mergers and acquisitions. Additionally, demographic changes are predicted to channel investments into healthcare and consumer sectors, reflecting post-pandemic economic recovery. However, caution remains over China’s economic slowdown and geopolitical tensions affecting trade-dependent economies.

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