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General Atlantic formally launches credit operation

Growth equity firm General Atlantic has completed its acquisition of Iron Park Capital Partners, a global investment manager focused on public and private credit markets, to form General Atlantic Credit. 

Growth equity firm General Atlantic has completed its acquisition of Iron Park Capital Partners (Iron Park), a global investment manager focused on public and private credit markets, to form General Atlantic Credit (GA Credit). 

Financial terms of the transaction, which first was announced in October 2022, have not been disclosed.

General Atlantic and Iron Park first started working together in 2020 upon the formation of the Atlantic Park strategy, which was initially structured as a joint venture to provide capital to companies at varying stages of their corporate and economic lifecycles. 

Tripp Smith, founder of Iron Park, serves as head of GA Credit, and Mike Whitman serves as president. Prior to Iron Park, Smith co-founded GSO Capital Partners (GSO), Blackstone’s credit arm, and Whitman served as co-head of GSO’s European team. Smith and his partners started GSO in 2005 and grew its AUM to more than $127 billion in 2018, before Smith launched Iron Park in 2019.

The GA Credit senior team also includes Matthew Bonanno, Jeff Rowbottom, Rob Hedlund and Nate Powell, as well as more than 20 investment professionals based in New York and London.

JP Morgan Securities LLC and Jefferies LLC served as financial advisors to General Atlantic on this transaction, and Paul, Weiss provided legal counsel to the firm. Houlihan Lokey served as financial advisor, and Kirkland & Ellis LLP as legal counsel, to Iron Park.

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