Private Credit Pulse - 7/25/25

Hello and welcome to Private Credit Pulse by Financial Profiles, a weekly account of the latest industry news and views to help you stay current on the buzz in this dynamic space. 

Hedge Funds Eye Private Credit for Growth and LegacyGoldman Joins the 401(k) Private Credit Pus

The push of the inclusion of private credit in retirement plans continued this week as Goldman Sachs launched a new product, reports Barron’s. The private credit vehicle, named GS Private Credit CIT, is designed for retirement plans, introducing a collective investment trust designed for 401(k)s and similar defined-contribution plans. Supporters say it marks an important step in democratizing access to private credit, while critics raise familiar concerns around fees, valuation opacity, and how these strategies may perform in a downturn. The move reflects the growing industry trend as firms like BlackRock, KKR, and Apollo also push to bring private markets into the retirement space. 

Blackstone Sees Private Credit Growth

Blackstone beat earnings expectations this week, citing private credit as a major contributor as inflows continue to climb. The firm's credit and insurance business now manages approximately $407 billion, up 23% year‑over‑year, and accounted for over half of the $52 billion in inflows in the quarter. Private credit has quickly become Blackstone’s fastest‑growing segment, and they expect this to continue. Executives highlighted the strongest deal and IPO pipeline since 2021, fueled by improving market conditions - lower short-term rates, reduced tariff pressures, and renewed corporate confidence.

Firm News

Third Point, a New York hedge fund, has completed a $400 million initial close for its Insurance Solutions Fund I, its first private credit vehicle specifically designed for insurance company investors.

Mubadala, the Abu Dhabi sovereign wealth fund, is further expanding its private‑credit investments by partnering with BNP Paribas to take a minority stake in London’s Hayfin Capital Management. This adds to its roughly $20 billion allocation through alliances with firms like Apollo, Ares, Carlyle, Goldman Sachs, and KKR.

Below is a list of other links to help you catch up on this week’s market headlines. 

Private Credit Trends, Analysis & Commentary  

Private Lenders From Blue Owl to Blackstone Ready for 401(k) Win

Private credit giants turn to Asia as funding gap widens in region

VIDEO: Current Trends and Opportunities in Private Credit | UBS United States of America

DOGE Cut Federal Contracts. That Created an Opportunity for These Investors.

Private Credit Legal Hiring Strong Amid Deal and Compliance Complexity

Singapore’s GIC signals caution on private credit

Private Credit and Wealth Strategies Boost Blackstone’s Growth

Investors beware the dangers lurking in private credit

Private Credit Wants a Share of US 401(k) Pot

Firm News, Thought Leadership, and Marketing

Investors Should Think Twice About Private Credit ETFs, Says Heron Finance

Apollo’s private-credit trade finds new audience on blockchain

Jamie Dimon’s private credit comments not “a doomsday call”

Inside Ares' push to $750 billion—and the unconventional leadership strategy behind its private credit dominance

Blackstone says deal pipeline strongest since 2021 peak as profit beats estimates

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