Private credit has propelled the assets of six of the largest alternative asset managers in 2023 to new heights, despite a challenging fundraising market over the year.
The largest of the six, Blackstone, ended the year with more than $1tn (£0.79tn) in assets, with the greatest inflows coming from its credit and insurance division, which attracted $62bn over the year, making up a third of the $150bn total.
It was the group’s third-best year of fundraising. It is now preparing to launch the fundraising for its fifth private credit opportunistic strategy, targeting $10bn.