Blackstone president sees private credit growing to $30 trillion from $2 trillion today

By Suzanne McGee

May 5 (Reuters) - Jonathan Gray, president and chief operating officer of the Blackstone Group, said on Monday that he expects the total addressable size of the private equity market to eventually reach $30 trillion from approximately $2 trillion today.

Gray, speaking to the Milken Institute's global conference, did not provide a time frame in which he expects that growth to materialize.

"The main event now is shifting ... to investment grade private credit, the financing of the real economy," Gray said. "Energy infrastructure, consumer finance, fleet finance, real estate, there's just an enormous opportunity."