Blackstone appoints credit and insurance head of international
Blackstone has appointed Dan Leiter as head of international for Blackstone Credit & Insurance.
Leiter will report to the global head of Blackstone Credit & Insurance, Gilles Dellaert, and will be responsible for leading the activity and expansion of the department in Europe, the Middle East, and Africa (EMEA) and Asia Pacific (APAC).
Additionally, Michael Carruthers has been appointed as European head of private credit, reporting to Leiter.
“We have seen extraordinary growth across our business globally, and our operations in Europe, the Middle East and Asia have been significant drivers of our success,” Dellaert said.
“We expect that trend to further accelerate globally, and it is fantastic to have Dan join us to lead our efforts as we expand our activity and serve more clients internationally. In Europe, we are delighted to also have Mike lead our private credit team.”
Read more: Blackstone boss cites 0.3pc default rate on private credit
Leiter added: “I am thrilled to join Blackstone Credit & Insurance to oversee the firm’s efforts to further capitalise on the international opportunity set. The growth of private credit is still in its infancy on a global scale, and I look forward to leading the team in EMEA and APAC.”
Leiter was previously global head of securitised products trading in Morgan Stanley’s fixed income division. Prior to this, he was head of European sales and trading in the securitised products group from 2015 to 2021.
Carruthers said: “Our private credit business in Europe is seeing strong momentum and opportunity both from a fundraising and deployment perspective. I’m delighted to head our European private credit team to build on our success and further grow our presence and activity in this region.”
Read more: Barclays and AGL tap into private credit boom with new joint venture
Carruthers was previously co-chief investment officer for Blackstone Credit & Insurance’s European and APAC private credit businesses.
The investments of Blackstone Credit & Insurance span the credit markets, including direct lending, opportunistic, collateralised loan obligations, high yield, infrastructure and asset-based credit.
The team is also a leading provider of investment management services for insurers through its capabilities in investment grade private credit.
Blackstone has nearly $420bn (£335bn) in assets under management across corporate and real estate credit.
Read more: Abrdn sees alternative investment portfolio grow to £25.8bn in Q1