<ul data-eligibleForWebStory="false"><li>Blackstone and L&G have signed a $20 billion private credit tie-up deal to originate investment-grade private credit deals for L&G's annuities business.</li><li>As much as one-third of the $6 trillion held by US life insurers is now allocated to private credit investments, with a growing trend of alternative asset managers partnering with insurers for market growth.</li><li>Blackstone's strategy involves partnership deals with annuity providers like L&G, unlike competitors Apollo Global Management and KKR & Co who have acquired such providers.</li><li>L&G, housing the UK's largest asset manager LGIM, aims to boost its private-markets capabilities, targeting £85 billion in assets under management in that division by 2028.</li></ul>

Blackstone, L&G sign $20 billion private credit tie-up deal

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