Resolution Life and Blackstone announce strategic partnership

Resolution Life, a global life insurance group focusing on the acquisition and management of portfolios of life insurance policies, and asset manager Blackstone, announced a strategic partnership to support the continued growth of Resolution Life.

Resolution Life and Blackstone plan to raise $3 billion of new equity capital commitments – including a $500 million strategic investment from Blackstone – bringing the company’s overall equity capital base to more than $8 billion. The $3 billion in capital would be raised through a newly established perpetual capital vehicle with Blackstone serving as the General Partner and the majority of Resolution Life’s existing investors expected to roll their investments into this vehicle.

The enhanced capital base will allow Resolution Life to rapidly scale its growth path in a highly active acquisition market – continuing its mission of being a global custodian to life insurance and annuity policyholders.

Blackstone will become Resolution Life’s investment manager for certain key areas, including directly originated assets across the private credit, real estate and asset-based-finance markets.  Blackstone will manage an initial target of up to $25 billion of Resolution Life’s existing private assets in the first year. As Resolution Life completes new transactions and new investments are deployed into asset classes managed by Blackstone, total Resolution Life private assets managed by Blackstone are expected to increase to over $60 billion over the next six years.

“This partnership accelerates Resolution Life’s growth through access to Blackstone’s capital and investment capabilities. It is a continuation of Resolution’s 20-year mission to be the partner of choice for the life insurance industry and a custodian for its in-force policyholders globally.” – Sir Clive Cowdery, founder and executive chairman of Resolution Life Group.

“We believe that Blackstone’s world-class private credit and asset origination platform and Resolution Life’s leading position in the closed book consolidation market will be a powerful combination. We look forward to working closely with the Resolution Life team in the years ahead to help drive their growth and deliver greater financial security for policyholders.” – Gilles Dellaert, global head of Blackstone Insurance Solutions.