Blackstone, Anacap partner for banking, insurance deals

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Global buyout giant Blackstone is reported to have established a joint venture with London-based credit investor Anacap to target banking and insurance deals in the European banking sector.

The pair are said to be looking to spend at least €300m in areas including consumer and corporate lending, Reuters reported on Wednesday, citing a person familiar with the situation.

The news follows the recent close of AnaCap’s latest distressed debt fund, which is seeking to capitalise on the need for financial institutions to deleverage following years of over-expansion.

The £350m vehicle targets performing, semi-performing and non-performing consumer and SME debt across Europe, including loans, leases, and securities.

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