Blackstone and Santander Corporate & Investment Banking formed an agreement under which funds managed by Blackstone Credit & Insurance (BXCI) will acquire interests in a $1 billion portfolio of infrastructure loans from Santander. The portfolio comprises loans that finance assets located largely in Western Europe and the U.S. across the digital infrastructure, utility scale renewable, energy efficiency and transportation sectors.
“This transaction is consistent with our approach to working with leading financial institutions on large-scale, long-term, efficient solutions that support their capital goals,” Robert Horn, global head of infrastructure and asset-based credit at BXCI, said.
“We are delighted to partner with Blackstone on this strategic transaction as we look to streamline our balance sheet while supporting further growth by Santander as a leading advisor and arranger in the Structured Finance space,” Marcel Patiño, global head of private debt mobilization at Santander CIB, said.
“We are excited to work with Santander to further scale our relationship as it aligns with Blackstone’s deep roots in the infrastructure credit market and BXCI’s focus on increasing its investment activities in Europe,” Jacob Nowack, managing director at BXCI, said.
