Private Credit Moves Into Banks’ Infrastructure Lending Turf
- Investors including Blackstone raised $9 billion in 2023
- Market has potential to grow to $1.5 trillion in next 5 years
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Global demand for new infrastructure to service everything from clean energy to data has created a lucrative new market for some of the biggest names in private credit.
Investors including Blackstone Inc, Brookfield Asset Management Ltd and Ares Management Corp raised almost $9 billion last year for funds that will be used to finance infrastructure projects. The market has the potential to grow to $1.5 trillion, according to a white paper published by Ares on Tuesday based on an extrapolation of 2022 data over a five-year time horizon.