Phoenix Financial (TASE: PHOE), an Israel-based asset management and insurance company, and Blackstone (NYSE: BX), the world’s alternative asset manager, announced a strategic partnership. Under the agreement, Phoenix and Blackstone will collaborate across a range of credit strategies, including corporate, real estate and asset-based credit. Phoenix will invest up to $5 billion across these strategies, “leveraging Blackstone’s global credit origination capabilities and additional co-investment opportunities for the benefit of its clients.”
Jon Gray, Blackstone President & COO, said that they are pleased “to further support Phoenix and its clients through this partnership.”
Gray added that they continue to see opportunities to invest across the private credit ecosystem, leveraging Blackstone’s “scale, origination capabilities and insights from across the firm.”
Blackstone has over $1.2 trillion in “assets under management across a wide range of alternative investment asset classes.”
Specifically in credit, Blackstone is the largest “third-party investment manager globally, with $508 billion in credit assets.”
This 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.”
Phoenix is the largest asset manager in Israel, “with more than $180 billion in assets under management, and continues to expand internationally through partnerships with global investment leaders.”
This announcement aligning Phoenix with Blackstone “underscores this long-term strategy, strengthening its investment platform and broadening access for Israelis to differentiated global opportunities.”
Eyal Ben Simon, CEO of Phoenix Holdings, said that they are eager to broaden our global alternatives platform by partnering with Blackstone, a world-class leader in private credit and origination.
This collaboration enhances the range of opportunities they 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 clients.”
As noted in the update, Blackstone is the world’s alternative asset manager.
Blackstone seeks to deliver returns for “institutional and individual investors by strengthening the companies in which the firm invests.”
Blackstone’s (reported) $1.2 trillion+ in assets under management “include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries, hedge funds.”
As mentioned in the announcement, Phoenix Financial is an Israel-based asset management and insurance company traded on the Tel Aviv Stock Exchange.
Phoenix activities have demonstrated growth and performance across the cycle, and serve “a significant portion of Israeli households and businesses with a set of financial solutions.”
Reportedly managing $180 billion+ in assets, Phoenix accesses Israel’s economic activity through an investment portfolio, creating “value for both clients and shareholders.”