Data & Intelligence

Private Credit Solutions: A Closer Look at the Opportunity in Emerging Markets

EMPEA is pleased to share with you Private Credit Solutions: A Closer Look at the Opportunity in Emerging Markets, an in-depth study of the private credit investment landscape across emerging and frontier economies. The report gathers the latest EMPEA data on overall industry activity while delving deeper into the details of what makes emerging market private credit qualitatively different from its counterpart in developed markets, as well as private equity in emerging markets.

Since EMPEA’s previous Private Credit Solutions report (Mezzanine Financing in Emerging Markets) was published in 2014, investor interest in private credit broadly defined has grown. Capital raised for private credit vehicles targeting emerging markets reached USD9.4 billion in 2018—the highest level recorded by EMPEA since the inception of our data program in 2006. Meanwhile, the share of global institutional investors surveyed by EMPEA who plan to begin investing or expand their investments in private credit in emerging markets has increased from 24% in 2014 to 47% in 2018. The global search for yield is naturally a key factor in the rise of private credit, but investors are also turning to emerging market credit opportunities because of their favorable risk-return profiles, particularly vis-à-vis heightened competition and deteriorating protections for alternative lenders in North America and Western Europe.

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