Credit funds eye openings as more banks cut Asia lending

As more European banks – and increasingly also regional ones – further pull back from lending to clients in Asia amid the Covid-19 fallout, private credit managers are ramping up efforts to raise money to provide companies with financing and thereby tap the growing appetite among yield-hungry asset owners. A growing number of lenders are believed to be reducing or at least re-assessing their Asian exposure, after moves by Dutch firms ABN Amro and ING and Australia’s Westpac to ret…