Highlights include:​ 

►  Private credit investments in GPCA markets reached USD18b in disclosed deal value through Q3 2025, exceeding all annual totals on record. 

►  Latin America and Asia have driven the majority of disclosed deal activity, accounting for 45% and 38% respectively of capital deployed since 2021. 

►  Private capital deals in GPCA markets exhibit lower leverage levels, better interest coverage ratios and shorter duration than US counterparts – while generating higher gross yields. 

GPCA Members can log in to download the report's accompanying Excel file for more data. For questions and feedback or to request custom data cuts from the research team, please contact research@gpcapital.org. 

Read the exclusive feature of the report in the Financial Times, highlighting GPCA’s new cross-market private credit dataset and global investment insights.

GPCA and Investing in Women (IW) partnered to spotlight fund managers advancing gender equity in Southeast Asia in a series of case studies. Navis Capital Partners, one of the region’s earliest institutional private equity firms, manages over USD5b across private equity and private credit and formally integrated gender into its investment process in 2020. What began as a focus on ESG risk management has evolved into a strategy that uses ESG and gender considerations to drive value creation, particularly in sectors like healthcare and education, where women represent a large share of the workforce and where diversity offers clear commercial benefits.

GPCA EVENTS

Key takeaways:

►  Capital allocations to Asia lag the region’s scale and growth, with significant Asian capital still flowing to developed markets. The key will be Asian LPs redirecting more of this capital back to the region.

►  Intra-Asia capital flows are rising as Asian LPs step in to fill the gap left by declining US investor activity. Sustaining momentum will require deeper participation from larger LPs.

►  Private credit and the healthcare, climate and digital infrastructure sectors continue to show resilience despite broader market volatility.

Mark your calendars for our upcoming Asia Members Meeting on 4 February 2026.

Industry News

INVESTMENTS 

► Actis acquired three Colombian highway concessions in a transaction valued at ~USD1.6b. #LatinAmerica

► Jefferies led a USD125m debt financing for erad, a Saudi Arabia-based alternative financing platform for SMEs, with a co-investment from Channel Capital. #MiddleEast

► Andbank Group led a USD108m Series G for Brazil-based consumer loan provider Creditas. #LatinAmerica

► Grupo Romero agreed to acquire Actis-backed Orygen Energy, a Peru-based renewable energy company. #LatinAmerica

► Patria acquired a 51% stake in Solis Investimentos, a Brazil-based investment manager specializing in the structuring and management of CLOs. #LatinAmerica

► Singapore-based O-RAN infrastructure provider SynaXG raised USD20m from January Capital, Vertex Ventures and Qualgro. #Asia

► India-based distribution and supply chain platform Ripplr raised USD45m from the State Bank of India, with follow-on from 3one4 Capital, Zephyr Peacock, Sojitz Corporation and others. #Asia

► Kinea invested BRL150m (~USD28.2m) in The Led, a Brazil-based visual communication and LED panels company. #LatinAmerica

► Jongsong Investments, an arm of Temasek, led a INR2.12b (~USD24m) Series C+ for Atomberg, an India-based consumer appliances company. #Asia

► AINDA invested USD50m in Quartux, a Mexico-based energy storage solutions company. #LatinAmerica

► Partech led a USD17m investment in UAE-based refurbished electronics retailer Revibe, with participation from E& Capital, Burda Principal Investments, EQNX and others. #MiddleEast

► TLG Capital provided a USD15m facility for Tanzania-based agro-processor Kijenge Animal Products. #Africa

► monashees led a USD14m Series A for Vambe, a Chile-based conversational commerce platform, with participation from Cathay Latam, Atlantico and others. #LatinAmerica

► IKEA and BTG Pactual TIG invested in a reforestation project in Brazil. #LatinAmerica

► Founders Fund led a USD11.7m Series A for Mznil, a Saudi Arabia-based recruitment and workforce management solutions provider, with participation from COTU Ventures. #MiddleEast

► HAVAÍC and Exeo Capital led a ZAR173m (~USD10.1m) Series A for South Africa-based livestock trading platform SwiftVEE, with participation from Iain Williamson, as well as follow-on from Mike Kirsten, Zire Africa and others. #Africa

► Outliers VC led a USD6m seed round for Strataphy, a Saudi Arabia-based provider of geothermal cooling for data centers, with participation from Shorooq and PlusVC. #MiddleEast

FUNDRAISING  

► Fireside Ventures reached a USD253m close for its fourth VC fund focused on early-stage startups across India. #Asia

► Day One Capital reached a EUR45m (~USD52.4m) second close for its fund focused on investing in pre-seed and seed-stage founders across Central and Eastern Europe. #CEE

► Public Investment Corporation invested USD30m in Enko Capital’s private credit fund focused on USD-denominated investments in mid-market companies across Sub-Saharan Africa. The vehicle has a USD150m target. #Africa

► Chui Ventures reached a USD17.3m final close for its debut fund focused on providing seed-stage capital to tech-enabled, mass-market businesses across Sub-Saharan Africa. #Africa

► The African Development Bank committed USD15m to Adenia Capital’s first entrepreneurial fund focused on investing in small- and mid-cap companies in sectors that contribute to economic resilience across African countries. #Africa

EXITS 

► Singapore-based surgical imaging company UltraGreen.ai raised USD400m through an IPO on the SGX. #Asia

► IDG Capital agreed to fully acquire the China-based business of yogurt brand Yoplait for RMB1.8b (~USD254.4m), facilitating exits for Tian Tu Capital and others. #Asia

► Morocco-based payments platform Cash Plus raised USD82.5m through an IPO on the Casablanca Stock Exchange, facilitating a partial exit for Mediterrania Capital Partners. #Africa

► CPP Investments partially exited its stake in Brazil-based mall operator Allos and fashion retailer Azzas via a BRL1b (~USD183.8m) block trade. #LatinAmerica

► Southern Cross Group sold BRL191m (~USD35.9m) of stock in Mills, a Brazil-based equipment rental company. #LatinAmerica

GPCA Events & Trainings

GPC Conference 2026

11-13 May 2026

New York

Industry Events

SuperReturn Saudi Arabia*

26-27 January 2026

Riyadh, Saudi Arabia

SuperReturn North America*

16-18 March 2026

Miami

Globalturk Capital 2025 Outlook on Investments and Private Capital
in Türkiye and Environs
27 February 2026

London

*GPCA Members receive a discount on registration.

GPCA Data & Intelligence