Phoenix Financial, Israel's largest asset management and insurance house with ca. $180 billion under management, has sealed a significant strategic partnership with alternatives giant Blackstone, valued at up to $5 billion.
The pair will collaborate across a range of credit strategies including corporate, real estate and asset-based credit, leveraging Blackstone's diverse expertise as the world's third-largest investment manager, with $508 billion in aggregate credit assets, dedicated to the space.
“We’re thrilled to further support Phoenix and its clients through this partnership. 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," Jon Gray, Blackstone President & COO, said.
“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," added Eyal Ben Simon, CEO of Phoenix Holdings. "Blackstone’s exceptional capabilities represent another important step in delivering diversified, institutional-grade solutions to our clients.”
Global law firm Simpson Thacher advised on the partnership's structuring.
