Glaser has joined in London from Alcentra where he served as head of European direct lending and portfolio manager for Alcentra’s European direct lending funds, responsible for around $10 bn (€10 bn) in assets under management.

Glaser was also vice chair of Alcentra’s executive management committee and chairman of its European direct lending investment committee. His +30-year career across North America and Europe has previously seen him hold leadership roles at KKR, as a partner, as well as at Barclays and Goldman Sachs.

Ben Way, group head of Macquarie Asset Management, said: 'We are seeing investors, corporates, and communities around the world look for new ways to meet their individual financing needs.

'Peter’s considerable expertise in private credit and portfolio management will be invaluable as we look to grow our offering in private credit and asset finance to support this growing market whilst providing our clients with greater access to a wider range of investment options.'

Said Glaser: 'I’ve greatly admired the strong presence and leadership position Macquarie has established across the asset classes it serves, and am excited to join the team in this time of growth as they approach compelling opportunities and expand the business into new areas to meet the evolving needs of its investors.'

According to Macquarie research, the market for private credit funds is rapidly growing, with assets under management forecast to reach $2.7 trn by 2026.

Macquarie Asset Management’s private credit offering encompasses infrastructure, real estate, and structured credit, with $S11.4 bn of assets under management.