The private debt industry in Asia has already seen fundraising growth within the distressed debt and mezzanine segments in so far in 2015 compared to 2014. However, the industry in Asia is still far less established than in North America and Europe. Special situations funds have continued to see strong fundraising in the region, and the strategy is likely to once again be the most attractive avenue for exposure to Asian private credit.
Given the moderate fundraising for Asia-focused funds, dry powder levels have remained relatively stable, with USD6 billion in available capital. Mount Kellet Captial Management has held a first close for its $4bn Asian special situations fund, the largest fund currently seeking capital for investment in the region, followed by ICG Asia Pacific Fund III, a USD1 billion mezzanine fund which has also held a first close.
Preqin’s recent factsheet brings together the latest data to provide an overview of the European private debt market, looking at dry powder, fundraising, the largest funds currently in market and more.
