Blackstone is considering launching a dedicated private credit secondaries strategy, marking a potential expansion of its presence in one of the fastest-growing corners of the alternatives market, according to a report by Bloomberg citing unnamed sources familiar with the matter.
The initiative would represent a shift from Blackstone’s current practice of accessing the private credit secondaries space through its flagship private equity vehicles, and instead involve a stand-alone pool of capital focused exclusively on acquiring second-hand interests in private credit funds.
The strategy would fall under the umbrella of Strategic Partners, Blackstone’s secondaries investment platform, which currently manages approximately $87bn across private equity, infrastructure, and real estate. Strategic Partners, led by Verdun Perry, is one of the largest and most established players in the secondaries market, with a track record spanning 25 years.
A Blackstone spokesperson declined to comment on the firm’s plans.
Rival firms such as Ares Management, Pantheon Ventures, and Tikehau Capital have already committed significant resources to the segment. This year has seen several large-scale transactions, including Coller Capital’s $1.6bn purchase of a direct lending portfolio from Brookfield Wealth Solutions, and the Florida State Board of Administration’s $2.7bn sale of private credit stakes to Banner Ridge Partners and Pantheon.
