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Investing.com -- JPMorgan Chase (NYSE:JPM) is setting its sights on the private credit market in Asia Pacific, according to Serene Chen, the bank’s Asia Pacific head of credit, currency, and emerging market sales. The bank has identified potential for significant growth in this market, which includes countries across Asia, as well as Australia and India.
Since 2019, JPMorgan Chase has been actively expanding its private credit business in the region. The bank’s strategy focuses on mid-sized companies that lack investment-grade ratings but possess strong fundamentals.
Chen highlighted the potential of the Asia Pacific region, stating, "Asia is driving over 50% of the world GDP growth, and we have some of the biggest economies in the region." She noted that the overall public debt market in Asia is about $1.5 trillion and that the region’s GDP growth is robust.
Chen also pointed out the relative infancy of the private credit market in Asia, saying, "In private credit, from the deal size we have seen, it’s probably only about $200 billion every year or so for the last two years so has a large gap to catch up so we see it’s still at the beginning stage of Asia private credit market." This suggests that JPMorgan Chase sees a significant opportunity for growth in this area.
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