Resolution Life, Blackstone Partner To Support Growth Of Resolution Life

(RTTNews) - Resolution Life and Blackstone (BX) said they plan to raise $3 billion of new equity capital commitments - including a $500 million strategic investment from Blackstone - bringing the company's overall equity capital base to more than $8 billion. Resolution Life is a global life insurance group focusing on the acquisition and management of portfolios of life insurance policies.

Blackstone will become Resolution Life's investment manager for certain key areas, including directly originated assets across the private credit, real estate and asset-based-finance markets. Blackstone will manage an initial target of up to $25 billion of Resolution Life's existing private assets in the first year. Total Resolution Life private assets managed by Blackstone are expected to increase to over $60 billion over the next six years.

Nippon Life, the existing investor in Resolution Life, has supported the strategic partnership.