Blackstone is teaming up with Italian insurance coverage agency Generali to launch a brand new non-public debt fund for French retail traders.
It’s the newest in a string of retail-focused non-public credit score ventures for Blackstone, which has introduced quite a few related partnerships over the previous 12 months.
In February, the choice asset supervisor partnered with French financial institution BNP Paribas to launch the Blackstone Credit score Privé Europe SC.
Learn extra: Blackstone’s credit score and insurance coverage chairman to retire
The fund goals to permit French retail traders to spend money on non-public debt by backing mid-sized French corporations.
“Given the present setting, credit score is, particularly, very fascinating given the rise in rates of interest,” mentioned Rashmi Madan, the pinnacle of Blackstone’s non-public wealth options in Europe, on the time.
“And the risk-adjusted returns of personal credit score have by no means been extra engaging.”
Learn extra: Blackstone hires Citi banker for credit score position
The next month, Blackstone partnered with Finland’s S-Financial institution to widen entry to its European non-public credit score fund by making a feeder fund that would make investments its purchasers’ capital into the Blackstone European Non-public Credit score Fund SICAV. The SICAV invests in senior secured loans to massive European corporations.
On the time of that launch, Blackstone hinted that it deliberate to roll out a number of related partnerships in Europe this 12 months, with the intention of creating the fund obtainable to traders throughout the continent.
Learn extra: Blackstone boss cites 0.3pc default charge on non-public credit score