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Blackstone Targets $5 Billion for Asia Private Credit Business

  • Company committed $500 million in assets as of fourth quarter
  • Seeking private debt deals in life sciences and technology

Blackstone Inc. is seeking a tenfold increase of assets in its Asia-Pacific private credit business to tap a market with a growing appetite for such financing.

The U.S. alternative asset manager aims to expand its private credit assets to at least $5 billion in the “near term” from the $500 million committed as of the fourth quarter of last year, said Paulo Eapen, who heads the operations in Europe and Asia-Pacific. Blackstone Credit began investing actively in the region in 2021.