Blackstone is also mulling for a secondary private credit vehicle while Blackrock signed the closing for the acquisition of HPS.
The secondary private capital market is buzzing. In January 2025, Ardian raised 30 billion US Dollars for ASF IX, the world’s biggest private equity for the secondary market that will invest in North America and Western Europe (see here a previous post by BeBeez and press release).
Coller Capital said it attracted 6.8 billion US Dollars for Coller Credit Opportunities II, a vehicle for senior performing loans secondary market deals (press release). In 2022, the firm raised 1.4 billion for the same strategy and since 2008 it invested 10.1 billion. On 1 July, Tuesday, NYSE-listed Blackrock signed the closing for the 12 billion acquisition of HPS Investment Partners, a private credit player with aum worth in the region of 150 billion (press release). The asset management giant will now launch a General Partners Solutions unit as cfo Martin S. Small said on 11 February, Tuesday, at the Miami’s Bank of America Securities Financial Services Conference (see here a previous post by BeBeez, Bloomberg and the webcast)
Blackstone is also considering the launch of a strategy for the private credit secondary market, Bloomberg said. However, Preqin reported that in 2024 59 private capital funds for the secondary marketraised65.2 billion, down 37% from 104.1 billion that 81 vehicles attracted in 2023. The market is growing despite such figures, private credit funds could manage assets for 3 trillion US Dollars by 2028(1.5 trilioni in 2023)Moody’s said.
