Fundraising

With co-investments and other capital, the manager has beaten its billion-dollar target for the flagship strategy.

Borrowers include both sponsor and non-sponsor backed companies across North America.

West Street Asia Private Credit Advisors was registered in Luxembourg last month, according to public filings.

The third vintage of the Dubai-based credit fund achieves 70% of its target two months after its launch.

The move by the asset management giant, which has around $37bn of private debt investments and $603bn in insurance AUM, reflects a global trend among GPs.

The region still has economic and geopolitical challenges but, with negative sentiment around the US, has an opportunity to grow its share of the private debt market.

ECRED, which was launched in late 2022 amid headwinds in the region, has reached a €2bn fundraising milestone.

Europe’s strong track record for private credit is cause for celebration, even as increased competition for assets is driving a diversification trend across Europe.

Europe’s private credit industry continues to offer opportunities for investors despite market headwinds.