We are delighted to launch this report on the Asia-Pacific (APAC) private credit market, a region poised to play an increasingly significant role in the global financial landscape. This publication reflects our ongoing commitment to supporting investors, policymakers, and market participants with the insights needed to navigate the evolving private credit environment in APAC.

The global private credit market has witnessed remarkable growth over the past decade, evolving into a mature and recognised asset class. The APAC region is experiencing strong tailwinds, driven by structural shifts in economic activity, investor demand for diversification, and the increasing need for flexible financing solutions. This report explores how private credit is steadily transitioning from a niche offering to a more mainstream asset class in APAC, supported by the region’s unique economic and demographic dynamics.

This report comes at a pivotal moment. The fragmented nature of APAC’s private credit market presents both challenges and opportunities. With over 50 distinct markets, each with its own regulatory, legal, and economic frameworks, the region requires a nuanced approach to investment. Despite these challenges, the region’s structural drivers, such as the expansion of the middle class, rapid urbanisation, and the growing demand for infrastructure financing, continue to create compelling opportunities for private credit managers. The ability of private credit to provide tailored, flexible financing solutions positions it as a critical enabler of growth for businesses across the region.

The Alternative Credit Council (ACC) has been at the forefront of promoting understanding and awareness of private credit globally. By fostering dialogue and commissioning research, the ACC aims to highlight the benefits of private credit as an asset class, including its ability to offer borrowers alternatives to traditional financing, providing investors with differentiated risk-return opportunities, and supporting policymakers in building resilient financial systems. This report aligns with the ACC’s mission to shine a light on the potential of private credit in APAC and to encourage further investment in the region.

This report is not just a reflection of the current state of the APAC private credit market but also a forward-looking guide. It underscores the importance of regional expertise, innovative structuring, and strategic partnerships in unlocking the market’s potential. By addressing challenges such as regulatory diversity and market fragmentation, private credit managers can position themselves to capitalise on the region’s immense opportunities.

We hope this report inspires confidence in the potential of APAC private credit market and serves as a catalyst for meaningful dialogue and action. As the region continues to evolve, private credit will play a vital role in supporting businesses, creating jobs, and driving sustainable economic growth. The next phase of development will be critical, and we are optimistic about the role of private credit can play in fostering long-term growth and resilience.

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  Jiri Krol

  Global Head of the Alternative Credit Council, AIMA

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  Ester Chow

  Partner, Simmons & Simmons

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  Ivan Au

  Partner, EY

Private Credit in Asia is available to members and non-members of AIMA.

For more information about the report, please contact Kher Sheng Lee, Managing Director, Co-Head of AIMA APAC and Deputy Global Head of Government Affairs.