General Atlantic acquires Iron Park Capital Partners as it moves into credit business

General Atlantic LLC said Wednesday it will create a new business unit called General Atlantic Credit by paying an undisclosed sum to acquire Iron Park Capital Partners LP, a global investment manager that specializes in the public and private credit markets. Iron Park CEO and founder Tripp Smith will be CEO of GA Credit. The investment firm said it plans to capitalize on growth in the private credit business, which has expanded on average 13.5% annually over the last decade to about $3.5 trillion in investable opportunities. “We are confident that GA Credit will stand out as an attractive product to businesses looking for active support, while also creating new offerings for investors looking to optimize their portfolios,” said General Atlantic CEO Bill Ford.