Asset-backed finance

We noted key takeaways from this week’s Private Debt Investor APAC Forum in Singapore.

The firm hopes to address a shortage of funding for businesses focused on key areas of manufacturing and industry.

Sweden’s LF, the Netherlands’ NN Group and UK firms Pension Insurance Corporation and Foresters Friendly Society are exploring new opportunities in illiquid credit.

Staff at the $620bn California pension expect the new and increasingly diversified program to perform well amid software exposure concerns and redemption pressure headlines.

Management, Daiichi Life Insurance and Korea Investment Holdings will provide permanent capital with more than $5bn annual origination capacity

The asset-based fund beat its target and raised $12.7bn of investable capital including commitments extended from the prior vintage.

Washington heard from its consultant, Albourne Partners, that ramping up a private credit allocation in a stressed market may allow for stronger documentation and higher spreads.

The US firm has hired an executive from JP Morgan, as insurers and other allocators continue to push into private credit, Private Debt Investor can reveal.

Cambridge Associates’ Asia team is focusing more on asset-based finance, lower mid-market direct lending and speciality lending, with an eye on regional diversification.

We examine the top takeaways from Private Debt Investor’s Japan Korea Week at a watershed moment for the global private credit industry.