BlackRock’s private credit business has made its first Asia investment since acquiring HPS Investment Partners, backing Malaysian logistics group Teleport in a $50m deal that values the company at $500m, according to the Business Times.

HPS funds will subscribe to redeemable convertible perpetual securities issued by Teleport, which is part of Capital A. The transaction marks HPS’ first private credit deal in Asia under BlackRock ownership, following the asset manager’s $12bn acquisition of the firm last year.

The investment is central to BlackRock’s efforts to rebuild momentum in Asian private credit after previous attempts in the region were hampered by leadership turnover and strategy missteps. HPS now oversees BlackRock’s combined private credit strategy globally.

Teleport’s chief executive Pete Chareonwongsak said the fundraising took almost a year and represents the company’s first institutional equity round. He added that an IPO could take place within five years, potentially sooner.

Founded in 2018, Teleport is Southeast Asia’s largest logistics operator by volume and became fully profitable last year. The company plans to double daily parcel deliveries to 2 million in 2026, up from around 1 million.

The deal highlights how global asset managers are increasingly leaning on established private credit platforms to reset regional strategies and capture growth in Asia’s expanding logistics and infrastructure markets.

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