Where the math is defensible.
Long-form research on live enterprise decisions. Publication is selective. Every number traces to a named source. No takes without evidence.
Asia Private Credit 2026: The USD 200 Billion Pivot, Spillover Plumbing, and the Risk Indicators That Matter
Asia private credit has moved from a 5 percent slice of the global pool in 2018 to roughly 11 percent in 2025, with Singapore and Hong Kong as twin booking hubs and Apollo, Blackstone, KKR, Blue Owl, PAG, and Hillhouse as the marginal pricers. Spread compression versus broadly syndicated loans, BDC leverage in the United States, and insurance balance sheet linkages set up the 2026 risk map.
Global private credit assets under management reached approximately USD 2.1 trillion at end 2024 per Preqin and IMF GFSR October 2024, with Asia Pacific accounting for USD 124 billion, up from USD 36 billion in 2018. Singapore and Hong Kong host the bulk of regional booking, supported by the MAS Variable Capital Companies regime (1,200 pl...
Hong Kong vs Singapore in 2026: The Head to Head for Asian Wealth, IPOs, and Connectivity
Hong Kong is back on the front foot with a thawing IPO market, an expanded dual counter regime, and deeper Connect schemes, while Singapore consolidates a 1,650 family office complex and a maturing Variable Capital Company stack. The two centers are no longer interchangeable.
Hong Kong enters 2026 with the strongest cyclical tailwind in three years. HKEX raised about USD 11 billion across 71 new listings in 2024, the 2025 calendar trended materially higher behind Midea's secondary listing, SF Holding's H share float, and the ZX consumer technology pipeline, and the HKD RMB Dual Counter Model has expanded to co...
The 2026 to 2027 LNG supply wave: 130 mtpa of new liquefaction, Henry Hub pressure, and the buyer's window
Five United States projects plus the Qatari North Field expansion add roughly 130 million tonnes per year of nameplate liquefaction between 2025 and 2027. Henry Hub feedgas demand clears 16 billion cubic feet per day, TTF and JKM spreads compress, and European buyers face a contracting decision they cannot defer.
Global LNG export capacity is set to expand from roughly 480 million tonnes per year at end 2024 to a notional 610 million tonnes per year by end 2027, the largest concentrated build out in the industry's history. The United States contributes Plaquemines (13.3 mtpa), Corpus Christi Stage 3 (10.0 mtpa), Rio Grande Phase 1 (17.6 mtpa), Por...