FRANKFURT, 21 November 2025 — DWS Group, the asset-management unit of Deutsche Bank AG, has dismissed its entire Asia-Pacific private-credit team as part of a broader strategic pivot away from the region’s private-lending market, according to people familiar with the matter.
The move represents a notable retreat from Asia for DWS, which has long targeted fast-growing private-credit opportunities in the region. Sources say the decision reflects concerns about deal-origination, margin pressure and regulatory complexity in Asia-Pacific markets.
What Happened & Why It Matters
- DWS’s Asia-Pacific private-credit desk, previously focused on direct lending, real-asset financing and alternative credit solutions in the region, has been disbanded, with staff either redeployed or let go.
- The shift signals that DWS is re-allocating resources away from Asia’s private-credit markets, likely favouring its European and U.S. businesses where the origination-to-asset-management model is more established and regulatory terrain more familiar.
- For Asia’s alternative-credit ecosystem, which has been in growth mode as banks pull back, this announcement raises questions about institutional backing and the durability of non-bank lending growth in the region.
Implications for Asia-Pacific Investors and Markets
For investors and alternative-asset players in Southeast Asia, the decision has multiple ramifications:
- The withdrawal sends a cautionary signal about the complexity of scaling private-credit operations in Asia: deal sourcing, execution risk, regulatory oversight and currency/interest-rate dynamics remain significant hurdles.
- Other global asset-managers backing Asia-Pacific private-credit strategies may now face heightened scrutiny from allocators and institutional investors about staffing, returns and structural risk.
- Regional borrowers relying on non-bank credit channels may experience tighter terms or slower access if major asset-managers pull back.
What to Watch Next
- Whether DWS confirms the shift with formal commentary and outlines new region-strategy directions, such as focusing on passive assets or non-credit alternatives.
- The impact on Asia-Pacific private-credit fundraising months ahead: will other firms fill the vacuum or retrench similarly?
- Whether local or regional asset-managers will pick up origination and servicing activity previously executed by global firms, potentially changing competitive dynamics in the alternative-credit space.
