Blackstone has evolved from being known primarily for private equity and real estate to managing a staggering $354.7 billion in private credit, now the largest third-party private-credit business globally.
CEO Marc Rowan of Apollo emphasizes the industry's transformation, stating, 'Everywhere in the world, banks are being asked to do less, and investors are being asked to do more,' highlighting the growing reliance on nonbank lenders.
Jamie Dimon, head of JPMorgan, warns about potential instability in the private-credit market, saying that there could be risks if this segment were to wobble.
Despite concerns, the growth trajectory of Blackstone’s private-credit arm remains strong, boasting an impressive return of 16.7% over the past 12 months, indicating a promising outlook.
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