{"id":783707,"date":"2023-09-13T07:52:13","date_gmt":"2023-09-13T11:52:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-integrates-leading-credit-and-insurance-businesses-to-form-blackstone-credit-and-insurance-bxci-in-push-toward-next-1-trillion\/"},"modified":"2023-09-13T07:52:13","modified_gmt":"2023-09-13T11:52:13","slug":"blackstone-integrates-leading-credit-and-insurance-businesses-to-form-blackstone-credit-and-insurance-bxci-in-push-toward-next-1-trillion","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-integrates-leading-credit-and-insurance-businesses-to-form-blackstone-credit-and-insurance-bxci-in-push-toward-next-1-trillion\/","title":{"rendered":"Blackstone Integrates Leading Credit and Insurance Businesses to Form Blackstone Credit and Insurance (BXCI) in Push Toward Next $1 Trillion"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Blackstone Integrates Leading Credit and Insurance Businesses to Form Blackstone Credit and Insurance (BXCI) in Push Toward Next $1 Trillion<\/b><\/p>\n<p class=\"bwalignc\"><i>Gilles Dellaert Named Global Head of BXCI, Dwight Scott Named Chairman<\/i><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nBlackstone (NYSE: BX) announced today the integration of its market-leading corporate credit, asset-based finance, and insurance groups into a single new unit, Blackstone Credit &amp; Insurance (BXCI). Credit and Insurance is Blackstone\u2019s fastest-growing segment \u2013 more than doubling to $295 billion in assets under management over the last three years. Today, Blackstone\u2019s 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.<\/p>\n<p>\nThe 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.<\/p>\n<p>\nSteve Schwarzman, Co-Founder, Chairman and CEO of Blackstone said: \u201cWe see the opportunity for BXCI, along with Real Estate Credit, to reach $1 trillion in the next ten years.\u201d<\/p>\n<p>\nJon Gray, President &amp; COO of Blackstone, said: \u201cExceptional 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.\u201d<\/p>\n<p>\nGilles Dellaert, Global Head of Blackstone Insurance, will serve as Global Head of BXCI and lead the business\u2019s combined operations. Since Mr. Dellaert joined the firm in 2020, Blackstone has nearly tripled the assets it manages for insurance clients. Major new partnerships include Corebridge (f\/k\/a AIG Life &amp; Retirement), Everlake (f\/k\/a Allstate Life &amp; Retirement) and Resolution Life in addition to F&amp;G Annuities &amp; Life.<\/p>\n<p>\nDwight Scott, Global Head of Blackstone Credit, will serve as Chairman of BXCI, prioritizing client relationships, key growth initiatives, and the further expansion of the firm\u2019s European platform. Mr. Scott is a nearly 20-year veteran of Blackstone who has built a world-class credit business with market-leading positions in direct lending, energy transition, and leveraged loans and CLOs, amongst others.<\/p>\n<p>\nGilles Dellaert said: \u201cI am excited to take on this new role and believe that there is immense white space to continue expanding our leading credit and insurance platforms. Bringing together nearly all of the firm\u2019s credit activities further extends the competitive advantage of Blackstone\u2019s scale, private origination capabilities, and intellectual capital \u2013 helping us better serve our clients.\u201d<\/p>\n<p>\nDwight Scott added: \u201cThe combined BXCI team will deliver the best of Blackstone to our investors and borrowers. We believe we are still in the early innings of a megatrend in private credit. Particularly in today\u2019s elevated base rate environment \u2013 and given the senior-secured structure of many of our products \u2013 we believe it is currently the best risk-adjusted environment for this asset class in decades.\u201d<\/p>\n<p>\nMr. Dellaert and Mr. Scott will be supported by long-tenured heads of our investment businesses who will be taking on expanded roles in BXCI including:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nMichael Zawadzki, Global Chief Investment Officer<\/p>\n<\/li>\n<li>\nBrad Marshall, Global Head of Private Credit Strategies<\/p>\n<\/li>\n<li>\nRob Horn, Global Head of Sustainable and Structured Credit<\/p>\n<\/li>\n<li>\nRob Camacho, Global Head of Asset Based Finance<\/p>\n<\/li>\n<li>\nRob Zable, Global Head of Liquid Credit Strategies<\/p>\n<\/li>\n<\/ul>\n<p>\nThe combined group will also draw upon strong operational leaders including:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nHeather von Zuben, Co-Chief Operating Officer<\/p>\n<\/li>\n<li>\nIda Hoghooghi, Co-Chief Operating Officer<\/p>\n<\/li>\n<li>\nWill Skinner, Chief Financial Officer<\/p>\n<\/li>\n<li>\nBeth Chartoff, Global Head, Credit Institutional Client Solutions\u00a0<\/p>\n<\/li>\n<\/ul>\n<p>\nJonathan Pollack will continue to lead Blackstone\u2019s $67 billion Real Estate Credit business as Global Head of Real Estate Credit.<\/p>\n<p><strong>About Blackstone<\/strong><\/p>\n<p>\nBlackstone is the world\u2019s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.blackstone.com%2F&amp;esheet=53553808&amp;newsitemid=20230913832989&amp;lan=en-US&amp;anchor=www.blackstone.com&amp;index=1&amp;md5=6d2d41733349506ac07d1f88e255b365\">www.blackstone.com<\/a>. Follow @blackstone on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2F7834%2F&amp;esheet=53553808&amp;newsitemid=20230913832989&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=2&amp;md5=03deb1f173c3d9d4a84629030db78f51\">LinkedIn<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2Fblackstone&amp;esheet=53553808&amp;newsitemid=20230913832989&amp;lan=en-US&amp;anchor=Twitter&amp;index=3&amp;md5=9fdaccfa407702c385ac0d4c52bbc380\">Twitter<\/a>, and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.instagram.com%2Fblackstone%2F&amp;esheet=53553808&amp;newsitemid=20230913832989&amp;lan=en-US&amp;anchor=Instagram&amp;index=4&amp;md5=87d2ca1bc0bfcea70fa7d3dddb2725d5\">Instagram<\/a>.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect our current views with respect to, among other things, our operations, taxes, earnings and financial performance, share repurchases and dividends. You can identify these forward-looking statements by the use of words such as \u201coutlook,\u201d \u201cindicator,\u201d \u201cbelieves,\u201d \u201cexpects,\u201d \u201cpotential,\u201d \u201ccontinues,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cseeks,\u201d \u201capproximately,\u201d \u201cpredicts,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cscheduled,\u201d \u201cestimates,\u201d \u201canticipates,\u201d \u201copportunity,\u201d \u201cleads,\u201d \u201cforecast\u201d or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include but are not limited to those described under the section entitled \u201cRisk Factors\u201d in our Annual Report on Form 10-K for the year ended December 31, 2022, as such factors may be updated from time to time in our periodic filings with the United States Securities and Exchange Commission (\u201cSEC\u201d), which are accessible on the SEC\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=53553808&amp;newsitemid=20230913832989&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=5&amp;md5=6f502838e104a29ddb8a079edab7af41\">www.sec.gov<\/a>. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this report and in our other periodic filings. The forward- looking statements speak only as of the date of this report, and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230913832989r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230913832989\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230913832989\/en\/<\/a><\/span><\/p>\n<p>\nMatthew Anderson<br \/>\n<br \/>(518) 248-7310<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Matthew.Anderson@Blackstone.com\">Matthew.Anderson@Blackstone.com<\/a><\/p>\n<p><i>And<\/i><\/p>\n<p>\nKate Holderness<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Kate.holderness@blackstone.com\">Kate.holderness@blackstone.com<br \/>\n<\/a><br \/>646-482-8774<br \/>\n<i><br \/><\/i><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Business Insurance Asset Management Fintech Consulting Banking<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230913832989\/en\/286215\/3\/bx_logo_jpeg.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Blackstone Integrates Leading Credit and Insurance Businesses to Form Blackstone Credit and Insurance (BXCI) in Push Toward Next $1 Trillion Gilles Dellaert Named Global Head of BXCI, Dwight Scott Named Chairman NEW YORK&#8211;(BUSINESS WIRE)&#8211; Blackstone (NYSE: BX) announced today the integration of its market-leading corporate credit, asset-based finance, and insurance groups into a single new unit, Blackstone Credit &amp; Insurance (BXCI). Credit and Insurance is Blackstone\u2019s fastest-growing segment \u2013 more than doubling to $295 billion in assets under management over the last three years. Today, Blackstone\u2019s 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 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-integrates-leading-credit-and-insurance-businesses-to-form-blackstone-credit-and-insurance-bxci-in-push-toward-next-1-trillion\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Blackstone Integrates Leading Credit and Insurance Businesses to Form Blackstone Credit and Insurance (BXCI) in Push Toward Next $1 Trillion&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-783707","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Blackstone Integrates Leading Credit and Insurance Businesses to Form Blackstone Credit and Insurance (BXCI) in Push Toward Next $1 Trillion - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-integrates-leading-credit-and-insurance-businesses-to-form-blackstone-credit-and-insurance-bxci-in-push-toward-next-1-trillion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone Integrates Leading Credit and Insurance Businesses to Form Blackstone Credit and Insurance (BXCI) in Push Toward Next $1 Trillion - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Blackstone Integrates Leading Credit and Insurance Businesses to Form Blackstone Credit and Insurance (BXCI) in Push Toward Next $1 Trillion Gilles Dellaert Named Global Head of BXCI, Dwight Scott Named Chairman NEW YORK&#8211;(BUSINESS WIRE)&#8211; Blackstone (NYSE: BX) announced today the integration of its market-leading corporate credit, asset-based finance, and insurance groups into a single new unit, Blackstone Credit &amp; Insurance (BXCI). Credit and Insurance is Blackstone\u2019s fastest-growing segment \u2013 more than doubling to $295 billion in assets under management over the last three years. Today, Blackstone\u2019s 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. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/blackstone-integrates-leading-credit-and-insurance-businesses-to-form-blackstone-credit-and-insurance-bxci-in-push-toward-next-1-trillion\/","og_locale":"en_US","og_type":"article","og_title":"Blackstone Integrates Leading Credit and Insurance Businesses to Form Blackstone Credit and Insurance (BXCI) in Push Toward Next $1 Trillion - Market Newsdesk","og_description":"Blackstone Integrates Leading Credit and Insurance Businesses to Form Blackstone Credit and Insurance (BXCI) in Push Toward Next $1 Trillion Gilles Dellaert Named Global Head of BXCI, Dwight Scott Named Chairman NEW YORK&#8211;(BUSINESS WIRE)&#8211; Blackstone (NYSE: BX) announced today the integration of its market-leading corporate credit, asset-based finance, and insurance groups into a single new unit, Blackstone Credit &amp; Insurance (BXCI). Credit and Insurance is Blackstone\u2019s fastest-growing segment \u2013 more than doubling to $295 billion in assets under management over the last three years. Today, Blackstone\u2019s 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. 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