General Atlantic, a New York-based growth equity firm, has acquired Iron Park Capital Partners LP, a global investment manager, to create General Atlantic Credit.

Iron Park offers a range of credit services that are designed to meet the needs of investors and borrowers. The firm’s investment offerings include funds that invest in public and private credit markets. GA Credit works to expand and improve the firm’s ability to provide capital services to companies in need of a strategic partner at multiple stages of corporate and economic lifestyles. Tripp Smith, CEO and founder of Iron Pack, will be CEO of GA Credit.

“With the changing market environment, companies are facing complex business challenges at a pace and scale unmatched in many years,” comments Smith. “We anticipate significant demand for partners with sector expertise, access to flexible capital and value-add capabilities. The deeply experienced GA Credit team draws from the strengths of Iron Park and General Atlantic to bring a differentiated approach to credit through all economic lifecycles, particularly in times of market dislocation – and we are poised to execute.”

J.P. Morgan Securities LLC and Jefferies LLC served as financial advisors to General Atlantic on this transaction, and Paul Weiss provided legal counsel to the firm. Houlihan Lokey served as financial advisor, and Kirkland & Ellis LLP as legal counsel, to Iron Park.