Asia's private debt market faces test amid higher rates, economic slowdown

Nascent investing space sees fund-raising drop to a third of 2021 peak

20240823 private credit

Private debt funds in APAC are relatively young, only five years old or so, and haven’t been through a full credit cycle. © Reuters

MITSURU OBE, Nikkei Asia chief business news correspondent

TOKYO -- Fund managers are going to face a test in the once-hot market of private debt, where investors lend directly to businesses without going through banks or markets, amid growing uncertainty about interest rates and the global economy.

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