How Blackstone Plans to Break the $1 Trillion Lending Mark | Exclusive

Blackstone Inc., a private equity giant, is making significant changes to its credit unit in a bid to become a major player in lending.

Gilles Dellaert, the current insurance chief, has been appointed to lead the combined unit, which oversees almost $300 billion in assets.

Blackstone has set an ambitious goal to grow its total credit assets to $1 trillion within the next decade.