Blackstone Integrates Leading Credit and Insurance Businesses to Form Blackstone Credit and Insurance
The new structure will further accelerate growth by creating a more seamless experience for clients and borrowers.
Blackstone announced the integration of its market-leading corporate credit, asset-based finance, and insurance groups into a single new unit, Blackstone Credit & Insurance (BXCI). Credit and Insurance is Blackstone’s fastest-growing segment – more than doubling to $295 billion in assets under management over the last three years.
Today, Blackstone’s market-leading businesses include: the largest BDC (BCRED), largest private credit energy transition fund (BGREEN), largest manager of CLOs and senior loans in the world, and the second-largest alternative manager of insurance assets.
The new structure will further accelerate growth by creating a more seamless experience for clients and borrowers. BXCI will offer a one-stop solution across corporate and asset-based, as well as investment grade and non-investment grade, private credit.
Steve Schwarzman, Co-Founder, Chairman and CEO of Blackstone said: “We see the opportunity for BXCI, along with Real Estate Credit, to reach $1 trillion in the next ten years.”
Jon Gray, President & COO of Blackstone, said: “Exceptional demand from our clients has made Credit and Insurance the fastest-growing segment at Blackstone. This integration allows us to be an even more effective lender and more comprehensively serve our insurance, pension fund and private wealth clients.”