Blackstone has purchased an curiosity in a $1bn (£795m) portfolio of infrastructure loans from Santander.
The portfolio contains loans that fund property in Western Europe and the US throughout digital infrastructure, utility scale renewable, vitality effectivity and transportation sectors.
The acquisition is made by Blackstone Credit score & Insurance coverage (BXCI), a brand new division of the corporate which was created final 12 months via the combination of the group’s company credit score, asset-based finance and insurance coverage teams into one entity. The phase has $432bn in property underneath administration and the infrastructure and asset-based credit score platform runs greater than $80bn in property.
Learn extra: Blackstone credit score funds announce management adjustments
Robert Horn, international head of infrastructure & asset primarily based credit score at BXCI, stated: “This transaction is in line with our strategy to working with main monetary establishments on large-scale, long-term, environment friendly options that help their capital objectives.”
Marcel Patiño, international head of personal debt mobilization at Santander CIB, added: “We’re delighted to associate with Blackstone on this strategic transaction as we glance to streamline our steadiness sheet whereas supporting additional progress by Santander as a number one advisor and arranger within the structured finance area.”
Learn extra: Blackstone Secured Lending Fund experiences report $186m Q3 web funding earnings
Learn extra: Blackstone personal credit score fund raises $1.5bn from bond sale and CLO