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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.

Blackstone is consolidating its corporate credit and asset-based finance groups, as well as its business that manages money for insurers, under one leadership. Photo: Getty Images

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.

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