Private credit

It will focus on lower-risk funds and has told clients it will not renew their facilities

It notes that macroeconomic uncertainty, geopolitical tensions and elevated interest rates weigh on investor appetite for illiquid assets

With redemption wave unlikely to ease, funds lock up around US$1.70 for every US$1 an investor reclaims

The planned size of Asia Direct Lending II could be more than the US$1.7 billion raised for its first fund

Nearly half of institutions in the region plan to raise allocations over the next two years

Withdrawal requests moderated from US, increased from offshore

The real estate sector is a major borrower in the roughly A$200 billion industry in the country

Institutional investors are utilising the secondary market more frequently to rebalance their portfolios

Family offices and allocators are pivoting away from generic softwares towards deep data moats and structural resilience