Blackstone Boosts Asset-Based Credit Push With Dubai Aerospace Deal

Blackstone Inc. is pushing deeper into the market for asset-backed credit, partnering with Dubai Aerospace Enterprise Ltd. on a plan to spend about $1.6 billion annually on an aircraft-leasing venture.

As part of the deal, the firms plan to build a diversified portfolio of commercial aircraft to lease out to airlines globally. Blackstone Credit & Insurance will provide capital for the program, and DAE will source assets.