Blackstone, one of the world’s largest alternative asset managers, has announced the promotion of Marshall to lead its direct lending business. Marshall has been with Blackstone for 17 years and has been instrumental in building the firm’s credit arm. This promotion comes amidst increased activity in Blackstone’s credit arm, which has been growing rapidly over the past few years.
Direct lending is a form of private credit where investors lend directly to companies, bypassing traditional banks. It has become increasingly popular in recent years as companies look for alternative sources of financing. Blackstone’s direct lending business has been growing rapidly, with assets under management reaching $10 billion in 2020.
Marshall’s promotion is a reflection of his success in building Blackstone’s direct lending business. He has been with the firm since 2004 and has played a key role in the growth of the credit arm. He has also been instrumental in expanding Blackstone’s presence in Europe and Asia, where the firm has been aggressively expanding its direct lending business.
Marshall’s promotion comes at a time when Blackstone’s credit arm is seeing increased activity. The firm has been actively investing in distressed debt and other credit opportunities, taking advantage of the market dislocations caused by the pandemic. Blackstone’s credit arm has also been expanding into new areas, such as infrastructure debt and specialty finance.
Blackstone’s direct lending business has been a bright spot for the firm in recent years. The business has been growing rapidly, driven by strong demand from investors and companies looking for alternative sources of financing. With Marshall at the helm, Blackstone’s direct lending business is well-positioned to continue its growth trajectory.
In conclusion, Marshall’s promotion to lead Blackstone’s direct lending business is a testament to his success in building the firm’s credit arm. With increased activity in the credit markets, Blackstone’s direct lending business is well-positioned to continue its growth trajectory under Marshall’s leadership. As companies continue to look for alternative sources of financing, direct lending is likely to remain a key area of focus for Blackstone and other alternative asset managers.
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