General Atlantic LLC said Wednesday it will create a new business unit called General Atlantic Credit by paying an undisclosed sum to acquire Iron Park Capital Partners LP, a global investment manager that specializes in the public and private credit markets. Iron Park CEO and founder Tripp Smith will be CEO of GA Credit. The investment firm said it plans to capitalize on growth in the private credit business, which has expanded on average 13.5% annually over the last decade to about $3.5 trillion in investable opportunities.