Blackstone Establishes New Asset-Based Lending Unit
Blackstone Inc. has launched a new platform focused on asset-based lending, providing financing against physical assets such as inventory and equipment. This strategic move positions the alternative asset manager further into financial sectors traditionally dominated by banks. The initiative also includes a key appointment to lead the new unit.
Blackstone Inc. has introduced a new platform dedicated to asset-based lending. This unit will provide financing against a range of physical assets, including inventory and equipment.
The establishment of this platform signifies a growing trend among alternative asset managers to expand their operations into financial territories traditionally held by commercial banks. The new initiative also involves an appointment, with Garlick tapped for a role within this new unit.
(Source: Bloomberg Markets)
