Blackstone buys into Santander’s $1bn infrastructure loan portfolio
Blackstone has bought an interest in a $1bn (£795m) portfolio of infrastructure loans from Santander.
The portfolio comprises loans that fund assets in Western Europe and the US across digital infrastructure, utility scale renewable, energy efficiency and transportation sectors.
The purchase is made by Blackstone Credit & Insurance (BXCI), a new division of the company which was created last year through the integration of the group’s corporate credit, asset-based finance and insurance groups into one entity. The segment has $432bn in assets under management and the infrastructure and asset-based credit platform runs more than $80bn in assets.
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Robert Horn, global head of infrastructure & asset based credit at BXCI, said: “This transaction is consistent with our approach to working with leading financial institutions on large-scale, long-term, efficient solutions that support their capital goals.”
Marcel Patiño, global head of private debt mobilization at Santander CIB, added: “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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