Blackstone鈥檚 credit and insurance group has invested in ITE Management, an alternative asset manager specialising in transportation infrastructure.
Blackstone Credit & Insurance (BXCI) funds have made an unspecified investment as part of a financing partnership to provide ITE with up to $2bn (鈧�1.9bn) in capital for investments and financing during the initial phase of their partnership.
ITE focuses on asset-backed investments, primarily in the transportation infrastructure sector, including rail, intermodal, specialty aviation, port and infrastructure equipment and electric vehicles.
Robert Horn, global head of infrastructure and asset-based credit at BXCI, said: 鈥淚TE is a respected leader in the transportation infrastructure space, where they own, operate, and finance critical assets that support key segments of the US economy.
鈥淲e are excited to partner with ITE on large-scale transportation infrastructure investment opportunities across the capital structure and return spectrum.鈥�
Jason Koenig, co-founder of ITE, said: 鈥淭his investment and partnership with Blackstone is recognition of ITE鈥檚 leading position in transportation infrastructure finance and the growing opportunity set within the sector.
鈥淥ur firm will benefit from Blackstone鈥檚 debt and equity financing as well as its expansive global network.鈥�
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