‘Private credit deals to touch $10 bn in 2024’

Mumbai: Private credit deployments are likely to surpass the $10 billion mark in 2024, a report by a consultancy firm said on Wednesday.

The January-June period saw private credit transactions of over $6 billion in 96 deals, and the last two-and-a-half years have seen over $ 20 billion being deployed in the emerging alternative serving the credit needs of Indian companies. Major deals were witnessed across real estate, infrastructure, and healthcare sectors in the first half of the year, the report by EY said.

Domestic funds are gaining traction and market share in the private credit space leveraging local expertise and the influence of lower-cost domestic money, it. The first half of the year saw Reliance Logistics and Warehousing, Vedanta Semiconductors, and Matrix Pharma collectively raising nearly $1.3 billion, while real estate sector continued to be a focal point with borrowers such as Prestige Group, Puravankara Group, Kalpataru Group being active.