Legal & General agrees up to $20bn private credit partnership with Blackstone

UK insurer Legal & General has partnered with Blackstone to source private credit deals for its annuities business, potentially worth up to £1.5bn annually over five years. This collaboration aims to diversify L&G’s asset pipeline and follows a trend of European insurers leveraging US private capital amid a booming market for bulk annuities.

Explain It To Me Like I’m 5: Legal & General has teamed up with Blackstone to invest in private credit deals, which could be worth a lot of money by the end of the decade, helping them find new ways to make their money grow.

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