Olympus Capital Asia says it has launched a structured lending business based in Singapore that will target mid-sized companies in Asia Pacific.Olympus Capital Asia describes itself as a middle-market private equity firm focused on Asia, with 16 years of operating history. The fund will be managed by Gary Stead, a former executive with Shearwater Capital and the Fortress Investment Group.Olympus said the new credit fund will offer "financing alternatives to customers who are underserved by commercial banks or who seek alternatives to private equity funding."Stead said Olympus "saw an opportunity for an alternative credit provider to come into the marketplace. Not just in Australia, this is a regional platform."The fund aims to provide structured loans of US$20 to US$100 million with two- to three-year maturities"Certain banks have pulled back and some have come in. The majors are more focused on core relationships, as well as regulatory changes, such as Basel III and the Volcker Rule, that make certain loans very expensive for them to hold.""In the mid-market area you see viable companies for whom access to credit has become harder."They may be looking to raise equity, but it might not be the right time to raise equity, or that option might not even be available, so they would look for an alternative source of capital like us."We provide what I call transitional capital - very structured [so as] to meet the needs of the borrower. We're very focused on downside protection. Protecting our capital is very important to us."Stead said Olympus had made "a significant contribution already" to the fund."We've built a significant pipeline. We're looking to complete four to six transactions a year," he said.