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How Phoenix’s US$5 Billion Credit Commitment At Blackstone (BX) Has Changed Its Investment Story

Simply Wall St · 2d ago
  • Phoenix Financial and Blackstone recently announced a partnership in which Phoenix plans to invest up to US$5 billion across corporate, real estate, and asset-based credit strategies, drawing on Blackstone’s global credit origination platform.
  • This agreement deepens Blackstone’s role as a large third‑party credit manager and channels institutional Israeli capital into diversified global credit opportunities.
  • Next, we’ll explore how this new US$5 billion credit partnership could influence Blackstone’s long-term investment narrative and growth drivers.

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Blackstone Investment Narrative Recap

To own Blackstone, you generally need to believe in its ability to keep compounding fee-based earnings across private markets, especially in credit and real estate, despite periods of macro uncertainty. The Phoenix Financial partnership adds up to US$5,000,000,000 of fresh credit capital, which supports the near term growth catalyst of expanding private credit, but does not materially change the key risk that weaker markets or geopolitics could slow realizations and pressure margins.

Among recent developments, Blackstone’s forward flow origination partnership with Harvest Commercial Capital stands out alongside the Phoenix news, as both directly reinforce the credit growth story. Together, they underline how Blackstone is leaning into its scale in private credit and insurance channels as a core earnings driver, while still leaving investors exposed to the risk that high debt levels and volatile markets could limit deployment or reduce asset valuations.

Yet while these partnerships highlight growth in private credit, investors should also be aware that rising compliance burdens and regulatory scrutiny could...

Read the full narrative on Blackstone (it's free!)

Blackstone’s narrative projects $21.5 billion revenue and $10.5 billion earnings by 2028. This requires 16.7% yearly revenue growth and a roughly $7.6 billion earnings increase from $2.9 billion today.

Uncover how Blackstone's forecasts yield a $179.78 fair value, a 17% upside to its current price.

Exploring Other Perspectives

BX 1-Year Stock Price Chart
BX 1-Year Stock Price Chart

Compared with the base case, the most optimistic analysts already assumed revenue growth of about 20 percent a year and earnings reaching roughly US$11.4 billion, so this new credit deal could either reinforce that upbeat view or expose how much it depends on very smooth fundraising and regulation remaining supportive.

Explore 7 other fair value estimates on Blackstone - why the stock might be worth as much as 26% more than the current price!

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.