Point72 Asset Management has tapped Todd Hirsch, a former senior managing director at Blackstone, to lead a new initiative centered on private credit opportunities. Steve Cohen, the firm’s founder, emphasized that the supply-demand imbalance in private credit creates a favorable environment for growth in this area. 

The global private credit market, valued at over $3 trillion, includes prominent firms like KKR, Carlyle, and Ares Management. Hirsch’s role will involve building and managing a portfolio that spans sectors such as technology, healthcare IT, insurance, and payments. 

Initially integrated into Point72’s broader hedge fund strategy, the private credit initiative may evolve into a standalone fund or business, though no definitive plans have been set. Point72, which manages $35.2 billion in assets, is positioning itself to capitalize on this rapidly growing market.

Finsum: We think private credit has shown resilience and is in a good place to begin 2025.