The discussions come amid signs the recent industry turmoil is morphing into a credit crunch.Jon Gray, president of Blackstone, told the Financial Times his company was talking to regional banks about entering into partnerships, which would involve lenders making or “originating” loans that the private equity group can funnel to its insurance customers. Under Gray’s proposal, the insurers would pay a fee to Blackstone for directing the assets their way.
“The discussions we are having is to potentially partner with a regional bank,” Gray said in an interview. He declined to name the lenders involved in the negotiations but said they had between $100bn and $250bn in assets.
https://www.ft.com/content/e1b35dcd-345e-4f38-9dbe-c6977a7179ef