ALTERNATIVE asset manager Tikehau Capital and brokerage UOB Kay Hian : U10 0% (UOBKH) have joined forces to launch a private credit fund, becoming the latest in a growing list of companies that are cutting deals to enter a fast-growing space.

Both sides have committed US$50 million each to the fund, which will focus on providing financing to mid-sized companies in Asia-Pacific.

Market sources said the fund is targeting an initial size of US$300 million.