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Phoenix Financial ("Phoenix", TASE: PHOE), a leading Israel-based asset management and insurance company, and Blackstone (NYSE: BX), the world's largest alternative asset manager, today announced a strategic partnership.
Under the agreement, Phoenix and Blackstone will collaborate across a range of credit strategies, including corporate, real estate and asset-based credit. Phoenix will invest up to $5 billion across these strategies, leveraging Blackstone's global credit origination capabilities and additional co-investment opportunities for the benefit of its clients.
Jon Gray, Blackstone President & COO, said: "We're thrilled to further support Phoenix and its clients through this partnership. We continue to see compelling opportunities to invest across the rapidly expanding private credit universe, leveraging Blackstone's scale, origination capabilities and insights from across the firm."
Blackstone has over $1.2 trillion in assets under management across a wide range of alternative investment asset classes. Specifically in credit, Blackstone is the largest third-party investment manager globally, with $508 billion in credit assets. This includes investment businesses across private corporate credit, liquid corporate credit, infrastructure and asset based credit, and real estate debt, as well as a team dedicated to serving the firm's insurance clients.
Phoenix is the largest asset manager in Israel, with more than $180 billion in assets under management, and continues to expand internationally through partnerships with global investment leaders. Today's announcement aligning Phoenix with Blackstone underscores this long-term strategy, strengthening its investment platform and broadening access for Israelis to differentiated global opportunities.
Eyal Ben Simon, CEO of Phoenix Holdings, said: "We are proud to broaden our global alternatives platform by partnering with Blackstone, a world-class leader in private credit and origination. This collaboration enhances the range of high-quality opportunities we bring to Israeli investors and reflects Phoenix's strategy of working with the strongest partners globally. Blackstone's exceptional capabilities represent another important step in delivering diversified, institutional-grade solutions to our clients."
About Blackstone
Blackstone is the world's largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone's over $1.2 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com . Follow @Blackstone on LinkedIn, X (Twitter), and Instagram.
About Phoenix Financial
Phoenix Financial is a leading Israel-based asset management and insurance company traded on the Tel Aviv Stock Exchange (TASE: PHOE). Phoenix activities have demonstrated strong growth and performance across the cycle, and serve a significant portion of Israeli households and businesses with a broad set of financial solutions. Managing over $180 billion in assets, Phoenix accesses Israel's vibrant and innovative economic activity through a robust investment portfolio, creating value for both clients and shareholders.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251217289780/en/
Thomas Clements
Thomas.clements@blackstone.com
646 482 6088
