WASHINGTON (dpa-AFX) - ITE Management, L.P., or ITE, an alternative asset manager, said on Wednesday that it has received a strategic minority investment from the funds managed by Blackstone Credit & Insurance, or BXCI of Blackstone Inc. (BX).
The two companies also launched a strategic forward flow partnership, with BXCI targeting to provide ITE with up to $2 billion of capital for investments and financing over the initial phase of the partnership.
Transaction proceeds will be directed towards growing existing ITE products and funding growth initiatives, including new products and platforms. ITE will continue to operate independently.
ITE, with over $10 billion in assets, is focused on asset-backed investments, primarily in the transportation infrastructure sector, including rail, intermodal, specialty aviation, and others.
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