Blackstone鈥檚 credit and insurance business is acquiring an interest in a $1bn (鈧�951m) portfolio of infrastructure loans from banking group Santander.
Blackstone Credit & Insurance (BXCI) is investing in the portfolio consisting of loans financing assets primarily located in Western Europe and the US, spanning the digital infrastructure, utility-scale renewable energy, energy efficiency and transportation sectors.
Robert Horn, the global head of infrastructure and asset-based credit at BXCI, said the transaction aligns with the firm鈥檚 approach to 鈥渨orking with leading financial institutions on large-scale, long-term, efficient solutions that support their capital goals鈥�.
Jacob Nowack, managing director at BXCI, said: 鈥淲e are excited to work with Santander to further scale our relationship as it aligns with Blackstone鈥檚 deep roots in the infrastructure credit market and BXCI鈥檚 focus on increasing its investment activities in Europe.鈥�
Marcel Pati帽o, the global head of private debt mobilisation at Santander鈥檚 corporate and investment banking arm, said: 鈥淲e are delighted to partner with Blackstone on this strategic transaction as we look to streamline our balance sheet while supporting further growth by Santander as a leading advisor and arranger in the Structured Finance space.鈥�
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