Blackstone’s Credit & Insurance arm (BXCI) launched SablePointe Credit Strategies, a new platform focused on asset-based lending. The initiative strengthens the firm's ability to originate and manage senior secured loans for corporate borrowers. This move positions Blackstone to compete directly with traditional banks in the direct lending space.
James Garlick, the former co-founder of Wingspire, will lead the Georgia-based platform as President. SablePointe will initially support BXCI’s existing credit strategies before expanding into other specialty asset classes. Blackstone shares rose 0.4% in premarket trading following the announcement.