Key Takeaways
- • Ares Management Corp. is planning its first Asia local currency private credit fund, based in Thailand, according to people familiar with the matter cited by Bloomberg.
- • The proposed vehicle will focus on performing credit, targeting high-quality Thai corporates.
- • The fund plans to raise capital primarily from insurance firms operating in Thailand that earn revenues in Thai baht.
- • The move signals Thailand's emergence as a new market for private credit in Asia.
Summary
Ares Management Corp. is planning to establish its first Asia local currency private credit fund in Thailand, according to people familiar with the matter, as the country emerges as a new market for the asset class, Bloomberg reported.
The proposed vehicle will focus on performing credit, targeting high-quality corporates in Thailand, the people said. The sources asked not to be identified because the discussions are private. The fund plans to raise capital primarily from insurance firms operating in the country and earning revenues in Thai baht, the people added, a structure that would allow the vehicle to align its liabilities with local currency income.
The report did not disclose a target fund size, timing for a launch, or specific investor commitments. The plan reflects broader efforts by global alternative asset managers to build local currency lending platforms in Asian markets, where insurers are a significant pool of domestic capital.
The proposed vehicle will focus on performing credit, targeting high-quality corporates in Thailand, the people said. The sources asked not to be identified because the discussions are private. The fund plans to raise capital primarily from insurance firms operating in the country and earning revenues in Thai baht, the people added, a structure that would allow the vehicle to align its liabilities with local currency income.
The report did not disclose a target fund size, timing for a launch, or specific investor commitments. The plan reflects broader efforts by global alternative asset managers to build local currency lending platforms in Asian markets, where insurers are a significant pool of domestic capital.
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