Regional investors look set to seek more investments in the asset class, especially from North America and Asia, say senior executives at asset owners and fund houses.
The number of lenders reducing their Asian exposure is seen to be growing fast amid the coronavirus crisis, leaving asset managers keen to fill the financing gap.
The UK firm's Asia ex-Japan strategy has hit capacity and closed to new investors. It comes as Hermes adds a hire in Asia and launches a direct lending business.
Reform of Ucits rules in Europe would allow more sales of direct lending and other credit products to Asia investors. The call for change comes as the European Commission implements a €315bn loan stimulus plan.