Blackstone (BX) Credit & Insurance made a strategic minority investment in ITE Management, enabling both firms to collaborate and strengthen ITE's position in the expanding transportation infrastructure sector, ITE Management said Wednesday.
As part of a forward flow partnership, Blackstone will provide ITE with up to $2 billion in capital for investments and financing over the first phase of the alliance, the company said.
ITE Management said the transaction proceeds will be used to grow its existing products and fund new growth initiatives, including new products and platforms.
BX shares were 0.2% higher in recent premarket activity.
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