Global multi-strategy investment firm Arena Investors LP is set to close its Singapore office, reallocating resources to other regions, according to a report by Bloomberg citing unnamed sources familiar with the matter.
The decision comes as the firm reassesses the risk-to-return profile and scalability of its Asia Pacific investments relative to opportunities in North America and Europe.
Arena’s Asia Pacific team has focused on opportunistic credit strategies, including direct lending, asset acquisitions, and joint ventures. Despite the closure, the firm said it remains open to selective deals in the region.
The move coincides with mounting headwinds in the $1.7tn global private credit market, with rising default warnings and slowing deal flow across Asia Pacific have prompted alternative managers to pause or scale back investments. Australian fund manager Tanarra Capital recently halted new investments in its distressed credit fund, while BlackRock agreed to unwind its private credit partnership with Abu Dhabi’s Mubadala due to sourcing difficulties.
Arena had applied to the International Finance Corp to raise an Asia Pacific-focused private credit fund, though the IFC declined to comment. Most of the Singapore operations will be absorbed by Arena’s Bangalore office, which handles global investment functions, asset servicing, and valuation. The firm also maintains a New Zealand office dedicated to real estate credit investment. Arena employs around 70 staff across Asia Pacific.
A spokesperson for Arena said the firm remains committed to the region and will continue to allocate resources where opportunities are strongest. The New York-headquartered firm has deployed more than $5bn across private credit special situations and recently closed its third special opportunistic fund with over $1bn in commitments.
