Blackstone Credit & Insurance (BXCI) announced a forward flow origination partnership with Harvest Commercial Capital, LLC, a leader in small business lending, to acquire business loans secured by first lien mortgages on owner-occupied commercial real estate. Under the terms of the partnership, BXCI purchased an initial “portfolio of loans and established a forward flow program for a total of $1 billion in loans.”
Under the long-term partnership, BXCI will acquire small business loans from Harvest, including “both SBA 504 and non-SBA conventional loans, providing permanent capital to expand lending to small businesses across the United States.”
Harvest will now reportedly continue to operate independently, “maintaining its specialized expertise in SBA 504 and conventional small balance commercial loans while benefitting from Blackstone’s platform and scaled insurance capital base.”
BXCI’s Infrastructure and Asset Based Credit group manages “over $100 billion and has over 80 investment professionals, as of Sept 30, ’25.”
The platform is focused on providing “investment grade credit, non-investment grade credit, and structured investments across the real economy in sectors such as physical assets and infrastructure, commercial finance, fund finance, consumer finance, and residential loans.”
As stated in a release, Blackstone Credit & Insurance is one of the world’s credit investors.
Their investments span the credit markets, “including private investment grade, asset-based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic credit.”
They seek to generate risk-adjusted returns “for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses.”
BXCI is also a provider of investment management services “for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.”
As mentioned in the announcement, Harvest Commercial Capital, LLC is a Delaware limited liability company “that originates, owns, sells and services first-lien small balance commercial loans backed generally by multi-purpose commercial real estate.”
HCC originates conventional loans and “first-lien loans pursuant to the U.S. Small Business Administration’s (SBA) 504 loan program.”
HCC is majority owned by an affiliate of “Medalist Partners, LP, an SEC registered investment manager with appr. $2.3 billion of net assets under management as of Sept ’25, that invests in securitized credit and asset-based private credit strategies.”
As noted in the update, HCC was founded in February 2016 and is based in Laguna Hills, CA.