This page provides a synopsis of the AIMA Private Credit 2.0 report, released in November 2025 and developed in conjunction with AIMA, EY, and Simmons & Simmons, supported by Broadridge Data & Analytics.
Private markets continue to structurally outgrow public markets across APAC, with private capital increasingly treated as a long-term strategic allocation. Investors are moving away from purely tactical use of alternatives and embedding private assets more deeply into portfolio construction, driven by diversification requirements, income generation and changing market dynamics.
Within this trend, private credit in APAC demonstrates a particularly strong growth trajectory. While still small relative to public credit markets, the asset class has considerable headroom for expansion. Broadridge data highlights sustained demand for higher yields and floating-rate structures, supporting private credit’s appeal during periods of interest-rate volatility.
Private credit is also outpacing other alternative asset classes, growing faster than private equity and infrastructure across the region. Institutional investors remain the earliest adopters, with strong and sustained inflows into private debt reinforcing its transition towards a core allocation rather than a niche exposure.
Adoption across APAC remains fragmented but is accelerating. Markets such as Australia, Singapore and Japan are seeing broader acceptance of private credit strategies, while China, Hong Kong and Taiwan continue to reflect distinct market dynamics shaped by local regulation and investor behaviour.
The wealth channel is emerging as a key growth engine, with wealth distribution estimated to account for approximately 28% of APAC private credit AUM. This expansion is being enabled by semi-liquid vehicles, evergreen funds and feeder structures, which are improving accessibility for private banks and wealth managers.
Although wider asset management growth forecasts have been revised downwards due to tariff impacts, private credit remains relatively resilient. Broadridge has reduced its three-year (2025–2027) organic growth outlook, revising global growth from around 2.9% to 2.2% and APAC from around 6.0% to 4.8%. Despite this moderation, private credit continues to rank among the strongest-growing segments within alternatives.
Looking ahead, private credit in APAC is expected to complete its evolution from an “alternative” to a core portfolio allocation. Early institutional adoption, accelerating participation from the wealth channel and continued product innovation are driving broader regional uptake. Broadridge data confirms that private credit is becoming a structural, long-term component of APAC investment portfolios rather than a niche strategy.
