Data & Intelligence

Private Credit Data Insight (Year-End 2019)

EM private credit funds raised USD8.1b in 2019, led by an increase in special situations fundraising

EM private credit fund managers raised USD8.1 billion in 2019. As explored in EMPEA’s 2019 Private Credit Solutions report, investor interest in private credit opportunities has grown in recent years, which is particularly visible in fundraising for special situations strategies. Special situations funds raised USD4.7 billion in 2019, more than in any year on record. Notably, SSG Capital Partners V and PAG Asia Special Situations Fund II raised a combined USD3.7 billion. GPs are prepared to meet increasing demand for credit in Emerging Asia, as banks in the region’s largest economies, China and India, face constraints on additional credit growth and companies seek alternative solutions. With increasing levels of corporate debt coupled with the COVID-19 pandemic, fund managers may see a spike in demand for alternative forms of lending in the region.


EMPEA represents the leading global investors in EM. I look forward to working alongside to drive much-needed capital for financing entrepreneurs and businesses worldwide.

Renuka Ramnath | Founder, Managing Director & Chief Executive Officer, Multiples Alternate Asset Management Private Limited

EMPEA plays an important and energetic role across the markets it represents, driving outreach and research initiatives, and promoting the role of private capital.

Brian Lim | Partner and Head of Asia and Emerging Markets, Pantheon Ventures

The developed markets have no equivalent to the role EMPEA is playing as a convener and source of trusted information in the emerging markets.

David Rubenstein | Co-Founder and Co-Executive Chairman, The Carlyle Group

I’m honored to join fellow industry pioneers in the leadership of an unparalleled network, filled with first movers, shaping the future of industries and communities.

Dr. Andrew Kuper | Founder and CEO, LeapFrog Investments

EMPEA's market and industry intelligence opens doors to new sources of capital.  I look forward to the future success of EMPEA and its members.

Torbjorn Caesar | Senior Partner, Actis

While there are certainly challenges for the industry, the opportunities abound in our target markets and globally, making a global association like EMPEA more relevant than ever.

Drew Guff | Managing Director & Founding Partner, Siguler Guff & Company