Recently, the executives of some leading private credit firms, including Apollo Global Management, Inc., Ares Management Corporation, and Blackstone, expressed enthusiasm about the future of the industry. This happened at the Bank of America Financial Services Conference, held in late February 2024.
According to data from Preqin and Barclays Research, the private credit market grew significantly between 2000 and 2023, as illustrated in the figure.
Currently, Apollo Global Management is pioneering new frontiers in private credit, with $600 billion in AUM, highlighted by its Apollo Debt Solutions BDC (ADS), which showcases a robust $8 billion asset base.
Meanwhile, Ares Management, with a portfolio of $378 billion, underscores its prowess with a discerning investment approach that selects merely 4% to 5% of the $0.5 trillion annual deal flow. Ares performance in the private credit space is largely led by the CION Ares Diversified Credit Fund (CADC), managed together with CION Investments.
At the same time, Blackstone, crossing the trillion-dollar mark in AUM, is redefining the private credit landscape with its Blackstone Private Credit Fund (BCRED) product, rapidly emerging as a category leader by raising almost a billion dollars a month.
https://lnkd.in/eq5KJRwi
#privatecredit #alternativeinvestment #alterantiveinvestments #privatemarket #privatemarkets #assetmanagement #assetmanager #assetmanagers #ads #cadc #bcred #outlook #forecast
AlpInvest Partners | Private Equity | Secondary and Portfolio Finance Investments
3moCongratulations to Vipon Ghai Richard Tarr (CFA) and the entire Manulife Investment Management team.