Report: Blackstone Investing $300M in Brigade Capital to Bolster Private Credit

Blackstone is providing $300M in seed capital to support Brigade Capital’s new private credit strategy and the expansion of its collateralized loan obligations (CLO) platform, Reuters reported November 12, citing people familiar with the matter.

Blackstone will allocate $150M from its Strategic Alliance Fund IV to back Brigade’s new strategy seeking opportunities in the lower-middle market among companies generating $10M to $50M in EBITDA, these sources told Reuters.

SAF IV is one of Blackstone’s series of hybrid funds that aims to provide seed capital to emerging alternative asset managers. Brigade is the third firm to receive investment from the fund after London-based Astaris Capital.

The firm will also invest $150M to support Brigade’s existing CLO business. This investment comes from Blackstone’s Absolute Return Platform, the sources told Reuters.

Source: https://www.reuters.com/business/finance/blackstone-backs-brigade-with-300-million-investment-private-credit-clos-2024-11-12/