‘We’re building a platform, not a collection of loans’: Why Asia is private credit’s next frontier
It offers a manager's view of an earlier-stage region for private real estate credit, at a time when most of the asset class's growth has been in North America and Europe. Useful context for allocators thinking about geographic diversification within private credit.
Summary
By the private credit deskPERE senior credit reporter Shihao Feng interviews Kishore Moorjani, CEO of alternatives in the private funds division at Singapore-based CapitaLand Investment, about private real estate credit in Asia-Pacific. The episode follows the launch of CapitaLand's third APAC real estate credit fund and covers why the manager is adding a credit sleeve alongside its real estate equity business, how the region differs from the more mature US and European private credit markets, and what role non-bank lending can play in the real estate capital stack and in institutional portfolios.
- Moorjani says Asia accounts for a large share of global GDP and roughly 70 percent of global GDP growth, but only about 1 to 2 percent of the overall private credit market.
- The conversation follows the launch of CapitaLand Investment's third APAC real estate credit fund.
- CapitaLand is complementing its large real estate equity business with a credit sleeve.
- The discussion covers how APAC differs from more mature US and European private credit markets and the role of non-bank lending in the real estate capital stack.
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