Blackstone and Phoenix Financial team up on credit strategies:

Blackstone (BX), the world's largest asset manager, and Phoenix Financial, the largest asset manager in Israel, are teaming up to collaborate across a range of credit strategies, the companies said on Wednesday.

Phoenix will invest up to $5B across the strategies, which will include corporate, real estate, and asset-based credit, leveraging Blackstone's (BX) global credit origination capabilities and additional co-investment opportunities for its clients, the companies said.

Besides being the largest asset manager with over $1.2T in assets under management, Blackstone (BX) is the largest third-party investment manager globally, with $508B in credit assets. That includes investment businesses across private corporate credit, liquid corporate credit, infrastructure and asset based credit, and real estate debt, as well as a team dedicated to serving the firm’s insurance clients.

Blackstone President and Chief Operating Officer Jon Gray said, "We continue to see compelling opportunities to invest across the rapidly expanding private credit universe, leveraging Blackstone’s scale, origination capabilities and insights from across the firm."

The collaboration underscored Phoenix's strategy to expand internationally through partnerships with global investment leaders. The company has more than $180B in assets under management.

Phoenix Holdings CEO Eyal Ben Simon commented, "This collaboration enhances the range of high-quality opportunities we bring to Israeli investors and reflects Phoenix’s strategy of working with the strongest partners globally. Blackstone’s exceptional capabilities represent another important step in delivering diversified, institutional-grade solutions to our clients."

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