BlackRock looks for insurance partnerships as part of private debt push
Written by Adam Cadle
13/06/2024
BlackRock’s private debt business is looking at ways to tap the deep pockets of insurance companies that are looking to boost their allocations to the asset class.
Speaking to Bloomberg, the firm’s global head of private debt, James Keenan, said it is actively looking to form partnerships with insurers that will help it increase its private debt assets as the asset manager doesn’t have any defined collaborations in this area.
It is not yet clear what structure the partnerships would take, but they will be in the form of separately managed accounts and similar to recent deals such as the 2022 partnership between Blackstone and life insurer, Resolution Life.
“We don’t want to be in the insurance space and write liabilities, but we will form collaborations with insurers,” Keenan stated.
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