Blackstone secures $1 billion for private‑credit continuation fund amid secondary market boom
Blackstone raised roughly $1 billion for a new private‑credit continuation vehicle that lets existing investors exit while the firm keeps the loan assets. Allianz Global Investors is the lead investor and StepStone Group also participates, with Evercore advising Blackstone. The underlying Capital Opportunities Fund IV had posted an 11% net internal rate of return as of June 30. The raise comes as private‑credit secondaries volume hit $15 billion in 2024, a fivefold rise since 2019, and Ares projects the market to reach $28 billion by 2026 and over $50 billion by 2030.
Why it matters
The capital infusion expands Blackstone’s capacity to manage and monetize private‑credit assets, potentially increasing fee income and AUM. The strong secondary‑market growth suggests continued investor demand for liquidity solutions in private credit, which could benefit Blackstone’s future fundraising and pricing power.
Key facts
- 1Blackstone secured approximately $1 billion for its private‑credit continuation fund. finance.yahoo.com
- 2Allianz Global Investors is leading the investment in the new vehicle. finance.yahoo.com
- 3StepStone Group is also participating as a buyer. finance.yahoo.com
- 4The original Capital Opportunities Fund IV posted an 11% net internal rate of return as of June 30. finance.yahoo.com
- 5Private‑credit secondaries transaction volume totaled $15 billion in 2024, a fivefold increase from 2019. finance.yahoo.com
- 6Ares Management projects secondary‑market volume of $28 billion by 2026 and over $50 billion by 2030. finance.yahoo.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.