06:43 AM EST, 11/14/2024 (MT Newswires) -- (Updates with Brigade Capital's response in the third paragraph.)

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.

Brigade declined MT Newswires' request for comment, while Blackstone did not respond.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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