Cambridge Associates, the US‑based investment consultancy, is shifting more attention to private credit secondaries after noting a surge in new allocations from Asian investors. Singapore‑based partner Audrey The said the firm’s research wing sees the asset class expanding faster than other alternative strategies, prompting a strategic pivot toward secondaries as part of its growth strategy to capture new opportunities.

The Asian market has become a hotbed for private credit, with local funds allocating more capital to secondary transactions. Audrey The highlighted that the region’s high‑net‑worth clientele increasingly prefers established credit positions, driving demand for liquid, pre‑structured deals that offer attractive risk‑adjusted returns in a tightening environment while global investors seek diversification, higher yields, and volatility mitigation.

Cambridge Associates also targets managers specializing in complex, speciality lending, citing growing concerns over AI‑driven disruptions in the software sector. By concentrating on niche credit strategies, the firm aims to shield its portfolios from technology volatility while exploiting underpriced opportunities that larger, more generalized funds overlook for institutional investors seeking alpha, defensive positioning, and volatile markets.

The shift signals Cambridge Associates’ intent to capitalize on Asia’s expanding private credit pipeline while mitigating sector‑specific risks through speciality lending. Investors will watch how the firm’s secondary allocations and niche focus translate into returns amid a market that still rewards disciplined, data‑driven credit strategies over speculative bets in the current low‑yield environment.