Key Takeaways
- • Blackstone and Italy's Generali are partnering on a fund that will give French retail investors access to private company debt, according to a joint statement released Thursday, September 26, 2024.
- • The Generali deal follows a similar partnership Blackstone announced in February 2024 with BNP Paribas, France's largest bank.
- • The move extends Blackstone's push to distribute private credit products to individual investors in France through bank and insurance channels.
Summary
Blackstone and Generali, Italy's largest insurer, have agreed to create a fund that will allow French retail investors to invest in private company debt, the companies said in a statement on Thursday, Reuters reported. The primary source does not disclose fund size, fee structure, minimum investment levels, or launch timing.
The partnership follows a comparable arrangement Blackstone announced in February with BNP Paribas, France's biggest bank. Together, the two agreements show the world's largest private equity firm expanding its retail private-credit distribution in France through established financial institutions rather than direct sales.
For institutional allocators, the deals illustrate growing demand from individual investors for private debt exposure, a segment that has traditionally been reserved for institutional and high-net-worth clients. Further details on structure and terms were not included in the available reporting.
The partnership follows a comparable arrangement Blackstone announced in February with BNP Paribas, France's biggest bank. Together, the two agreements show the world's largest private equity firm expanding its retail private-credit distribution in France through established financial institutions rather than direct sales.
For institutional allocators, the deals illustrate growing demand from individual investors for private debt exposure, a segment that has traditionally been reserved for institutional and high-net-worth clients. Further details on structure and terms were not included in the available reporting.
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