Phoenix To Invest Up To $5B In Expanded Credit Collaboration With Blackstone

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.