Blackstone’s Zawadzki Sees Private Credit as $25 Trillion Market

The $1.7 trillion private-lending industry is still “in batting practice” before it swells to a $25 trillion market, according to one of its powerhouses, Blackstone Inc.

Given the funding needs for financing data centers and energy transition, there’s room to grow to hit the $25 trillion mark, Michael Zawadzki, Blackstone Credit and Insurance’s global chief investment officer said Friday in an interview with Bloomberg Television.

Higher base rates, the shift from banks to private lenders and the proliferation of strategies to access private credit allow the market to grow larger, Zawadzki said. The private ...