Blackstone’s credit and insurance business is acquiring an interest in a $1bn (€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’s approach to “working with leading financial institutions on large-scale, long-term, efficient solutions that support their capital goals”.
Jacob Nowack, managing director at BXCI, said: “We are excited to work with Santander to further scale our relationship as it aligns with Blackstone’s deep roots in the infrastructure credit market and BXCI’s focus on increasing its investment activities in Europe.”
Marcel Patiño, the global head of private debt mobilisation at Santander’s corporate and investment banking arm, said: “We 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.”
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