Former Blackstone Executive Launches $1.5B Credit Firm

Trimontium, a credit-focused alternative asset manager founded by former Blackstone executive Vlado Spasov, has launched with $1.5 billion in assets under management, backed by institutional investors collectively overseeing more than $15 trillion.

The London-based firm raised capital from partners across the U.S., Canada, Asia, and Australia without the use of placement agents. Trimontium said the launch ranks among the largest first-time European managers focused on flexible capital, based on available market data.

The firm invests across the capital structure, providing financing solutions ranging from senior debt and hybrid instruments to preferred equity. Its mandate spans corporate capital, special situations, structured and asset-backed credit, as well as niche asset classes such as intellectual property and royalties.

Trimontium has already executed several cross-border transactions in the U.S. and Europe, including a deal involving music rights, highlighting demand for tailored capital solutions.

Spasov, who serves as chief investment officer, previously held senior roles in special situations and opportunistic credit at Blackstone and Ares Management and brings more than two decades of investment experience.

He said the firm was built to address a growing gap in the market. “Flexible capital remains one of the most undersupplied areas as traditional financing sources pull back,” Spasov said. “We designed Trimontium to deliver customized solutions where conventional approaches fall short.”

The Firm is headquartered in London, has a presence in Luxembourg and plans to expand to New York.

Pictured: Trimontium Founder and CIO, Vlado Spasov