Private Credit Firms See More Asia Growth as Banks Retreat (1)

Some of the world’s biggest private credit firms see a further increase in Asia-Pacific lending in 2024 and are training their sights on higher-quality borrowers rather than on distressed cases.

A Bloomberg survey, which included Apollo Global Management Inc. and Blackstone Inc., found that several respondents expect the market to grow more than 10% this year. The interest in solid companies with a healthy cash flow comes as banks, who’ve long provided the backbone of financing for the region’s companies, pull back.

The education, healthcare, and consumption-related sectors are seen as the most promising for deals, according to the ...