Blackstone and Santander Corporate & Investment Banking announced an agreement under which funds managed by Blackstone Credit & Insurance (“BXCI”) will acquire interests in a $1 billion portfolio of high-quality infrastructure loans from Santander. The portfolio comprises loans that finance assets located largely in Western Europe and the US across the digital infrastructure, utility scale renewable, energy efficiency and transportation sectors.

Robert Horn, Global Head of Infrastructure & Asset Based Credit at BXCI, said: “This transaction is consistent with our approach to working with leading financial institutions on large-scale, long-term, efficient solutions that support their capital goals.”

Marcel Patiño, Global Head of Private Debt Mobilization at Santander CIB, said: “We are delighted to partner with Blackstone on this strategic transaction as we look to streamline our balance sheet while supporting further growth by Santander as a leading advisor and arranger in the Structured Finance space.”

Jacob Nowack, Managing Director at BXCI, added: “We are excited to work with Santander to further scale our relationship as it aligns with Blackstone’s deep roots in the infrastructure credit market and BXCI’s focus on increasing its investment activities in Europe.”

BXCI’s Infrastructure and Asset Based Credit platform manages over $80 billion and has over 70 investment professionals, among the largest in the asset-backed marketplace. The platform is focused on providing investment grade credit, non-investment grade credit, and structured investments across the real economy in sectors such as digital infrastructure, energy transition infrastructure, consumer finance, commercial finance, and residential real estate.