The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.
Blackstone
US investments group Blackstone has partnered
with Finland’s S-Bank
to provide individual investors in Finland the opportunity to
invest in private markets.
The combination will widen access to a private credit market in
Europe that has traditionally been confined to institutional
investors with high investment minimums and a requirement to lock
up capital for long periods.
The move by Blackstone Private Wealth Solutions into what it
sees as under-exploited European markets follows agreements with
BNP Paribas earlier this year, and ING last year. (In those
cases, Blackstone brought its European private credit investment
platform to qualified private investors in France and the
Netherlands, respectively.)
S-Bank’s (aka S-Pankki) private credit fund, invests in
loans in unlisted companies, mainly in Europe. The S-Pankki
European fund (S-Pankki ECRED) is a feeder fund whose target fund
is Blackstone European Private Credit Fund SICAV.
The target fund Blackstone European Private Credit Fund SICAV was
launched in October 2022; it had €581 million ($634 million) in
January. The investments are secured senior loans.
(The fund is not intended for investors in the US.)
