Marshall, Blackstone’s 17-year direct lending lead, has been promoted amidst thriving credit arm operations. This move highlights the importance of the credit business for Blackstone, one of the world’s largest alternative asset managers. The promotion of Marshall is a testament to his leadership and success in building Blackstone’s direct lending business over the years.
Blackstone’s credit arm has been growing rapidly in recent years, with assets under management reaching $154 billion at the end of 2020. The credit business includes direct lending, distressed debt, and special situations investing. Direct lending, in particular, has been a key focus for Blackstone, with the firm providing financing to middle-market companies across a range of industries.
Marshall has been instrumental in building Blackstone’s direct lending business since he joined the firm in 2004. He has led the team responsible for originating, underwriting, and managing direct lending investments, which have grown to over $30 billion in assets under management. Marshall has also been involved in developing new products and expanding the firm’s presence in Europe and Asia.
Marshall’s promotion to Senior Managing Director is a recognition of his contributions to Blackstone’s credit business. In his new role, Marshall will continue to oversee the direct lending business while also taking on additional responsibilities within the credit arm. He will work closely with Dwight Scott, Global Head of Credit, and Ken Caplan, Global Co-Head of Real Estate, to drive growth and innovation across the credit platform.
Blackstone’s credit business has been a bright spot for the firm in recent years, generating strong returns for investors despite the challenges posed by the COVID-19 pandemic. The credit arm has benefited from a diversified portfolio of investments across industries and geographies, as well as a disciplined approach to underwriting and risk management.
Looking ahead, Blackstone’s credit business is well-positioned to capitalize on opportunities in the post-pandemic economy. The firm’s direct lending business, in particular, is expected to benefit from the ongoing shift towards alternative sources of financing for middle-market companies. With Marshall at the helm, Blackstone’s credit arm is poised for continued success in the years to come.
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