Blackstone combines its real estate debt and asset-backed financing business and has selected Jonathan Pollack to lead the new unit.
The new Structured Finance Group will manage all financing activities in the areas of consumer credit, real estate, transport, trade receivables, fund financing and digital infrastructure.
Timothy Johnson, Global Head of Origination for Blackstone Real Estate Debt Strategies (BREDS), will succeed Pollack as Global Head of BREDS.
Mike Wiebolt, who manages investments in liquid real estate securities, will now also manage asset-backed securities. Rob Camacho will continue to lead asset-based finance.
Blackstone said the structured finance group, which combines BREDS and various asset-backed finance businesses, will “further scale up” its lending capabilities.
Jon Gray, President and COO of Blackstone, said, âThis team will capitalize on information from all asset classes to deliver unique financing solutions to our clients.
âNow has never been a better time to grow this part of our business, especially as we deploy increasing amounts of insurance capital. “
Pollack said, âWe believe that direct sourcing of structured credit investments is integral to delivering differentiated performance to our clients.
âWe are delighted to leverage our greatest strengths – broad sourcing capabilities enhanced by close relationships, large-scale capital and the provision of tailored solutions to our borrowers and counterparties. “
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