08:04 AM EST, 11/13/2024 (MT Newswires) -- Blackstone (BX) is investing $300 million in hedge fund Brigade Capital to support the latter's new private credit strategy and expand its current collateralized loan obligations platform, Reuters reported late Tuesday, citing two unnamed people familiar with the matter.

The investment manager will invest $150 million for Brigade's current collateralized loan obligations, while Blackstone's multi-asset investing subsidiary will set aside $150 million for the new Brigade strategy, the report said.

Neither Blackstone nor Brigade immediately responded to MT Newswires' requests for comment.

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