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If executed properly, Secondaries can be an extremely effective and lucrative way to acquire stakes in high-growth companies that are not actively raising capital. With this, they can tap into startups and talent worldwide, thus increasing investment prospects. We will continue pursuing this strategy.
trillion credit market: A high-stakes trade in the riskiest corner of a $1.3 While investors have typically included other hedge funds, family offices and sovereign wealth funds, the prospect of higher yields is now luring more money that’s been traditionally risk-averse. It promises returns as high as the mid- to high-teens.
And there is an additional $50 billion in prospective future development pipeline. We did execute a number of sales in the quarter, including a stake in one of the largest cell tower platforms, public stock of the London Stock Exchange Group and the sales of certain other public and private holdings.
This has included the addition of multiple co-development programs in which we have the option to maintain a 50% ownership stake. Over the past three years, we've started to evolve that business model to include co-development programs, we have a bigger stake. You know, 635, we are wildly excited about. We love that program.
The Blackstone portfolio consists of $70 billion of data centers and over $100 billion in prospective pipeline development, including AirTrunk and facilities under construction. Our GP Stakes platform appreciated 12.6% The relationships we have there, that dealflow is very helpful to our credit business as well.
Acquisitions and IPOs have surged, driven by central bank rate cuts and a stock market rally fuelled by deregulation prospects. This vibrant dealflow provides private equity firms with more opportunities to deploy capital and realise gains. Can`t stop reading?
They also act as a fantastic marketing tool for prospective new investors (whether you are a founder or fund manager), and as a matter of fact, are the #1 diligence item I seek when considering a new investment. Based on my experience and prior success with these types of transactions, we will continue pursuing this strategy.
Just to give a couple of early data points around this, our real estate credit team has already identified and created dealflow for the liquid portion of ORENT's portfolio and for our insurance solutions platform, which closed in July. Similarly, Atalaya and our credit teams have been active in sourcing investment-grade flow.
and our prospects are very strong. billion take-private of Tricon Residential, a partnership with Digital Realty to develop $7 billion of data centers and a joint venture with the FDIC to acquire a 20% stake in a $17 billion first mortgage portfolio from the former Signature Bank. Blackstone is an extraordinary place.
And as BIP has continued to scale, it has in turn enhanced the firm's intellectual capital, relationships, and dealflow, supporting our growth in other areas, including our $90 billion infrastructure and asset-based credit platform, our infrastructure Secondaries business and our dedicated energy and energy transition focused funds.
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