Blackstone is reportedly evaluating the creation of a standalone private credit secondaries strategy, signalling a potential expansion into one of private markets’ fastest-growing segments, according to Bloomberg.

The strategy, if approved, would move Blackstone beyond its current approach of accessing the asset class through flagship private equity funds. Instead, it would establish a dedicated pool of capital focused exclusively on acquiring second-hand interests in private credit funds.

The initiative would be housed under Strategic Partners, Blackstone’s secondaries platform, which oversees around $87bn in assets across private equity, infrastructure, and real estate. Led by Verdun Perry, Strategic Partners is among the longest-established players in the global secondaries market, with over 25 years of investment activity.

While Blackstone has not publicly commented on the plan, the move would align with recent trends among major alternative asset managers. Competitors such as Ares Management, Pantheon Ventures, and Tikehau Capital have already stepped up their exposure to private credit secondaries.

Several notable transactions have underscored growing demand in this segment. These include Coller Capital’s $1.6bn acquisition of a direct lending portfolio from Brookfield Wealth Solutions, and the Florida State Board of Administration’s $2.7bn sale of private credit holdings to Banner Ridge Partners and Pantheon.

The development reflects broader momentum in the secondaries market, particularly in credit, where LPs are increasingly seeking liquidity options amid shifting rate environments and recalibrated return expectations.

Source: Bloomberg

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