ITE Management, L.P. (“ITE”), a leading alternative asset manager focused on transportation infrastructure, announced a strategic minority investment from funds managed by Blackstone Credit & Insurance (“BXCI”). The investment and strategic partnership enable ITE and BXCI to collaborate and enhance ITE’s leadership position amidst a growing opportunity set within the transportation infrastructure sector.

BXCI and ITE also launched a strategic forward flow partnership, with BXCI targeting to provide ITE with up to $2 billion of capital for investments and financing over the initial phase of partnership. ITE, with over $10 billion in assets and over 70 investment and operating professionals, focuses on asset-backed investments, primarily in the transportation infrastructure sector, most notably: rail, intermodal, specialty aviation, port and infrastructure equipment, and electric vehicles.

“This investment and partnership with Blackstone is recognition of ITE’s leading position in transportation infrastructure finance and the growing opportunity set within the sector,” said Jason Koenig, Co-Founder of ITE. “Our firm will benefit from Blackstone’s debt and equity financing as well as its expansive global network.”

“ITE is a respected leader in the transportation infrastructure space, where they own, operate, and finance critical assets that support key segments of the U.S. economy,” said Robert Horn, Global Head of Infrastructure & Asset Based Credit at BXCI. “We are excited to partner with ITE on large scale transportation infrastructure investment opportunities across the capital structure and return spectrum.”

BXCI’s Infrastructure and Asset Based Credit platform manages over $90 billion and has over 70 investment professionals, among the largest in the asset-backed marketplace. The platform is focused on providing investment grade credit, non-investment grade credit, and structured investments across the real economy in sectors such as digital infrastructure, energy transition infrastructure, consumer finance, commercial finance, and residential real estate.

Transaction proceeds will be directed towards growing existing ITE products and funding growth initiatives, including new products and platforms. ITE will continue to operate independently under the ongoing leadership of Co-Founders Jason Koenig and David Smilow.

Goldman Sachs & Co. LLC is acting as the exclusive financial advisor to ITE and Weil, Gotshal & Manges is acting as legal advisor to ITE. Guggenheim Securities, LLC is acting as financial advisor and Kirland & Ellis is acting as legal advisor to Blackstone.