Blackstone Targets $5 Billion for Asia Private Credit Business

Though Asia has some of the world’s largest and fastest-growing economies, the region’s private credit market remains largely untapped. Photo: Bloomberg

(Bloomberg) — 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.