Blackstone Inc. rolled out a platform to lend against physical assets like inventory and equipment, as alternative asset managers increasingly muscle into territory long dominated by banks.
Blackstone Credit & Insurance said James Garlick, co-founder of specialty finance firm Wingspire Capital, is heading up its new SablePointe Credit Strategies platform. The entity will support the credit investor as it “sources, structures, and manages senior secured asset-based and first-out credit facilities for corporate borrowers,” according to a statement.
Private credit firms are pushing to diversify beyond corporate direct lending, a market that’s drawn scrutiny recently over concerns about loan quality. ...
