Clifford Chance

Clifford Chance supports Legal & General on landmark Blackstone private credit partnership

We are delighted to be supporting Legal & General in respect of the institutional retirement elements of the landmark private credit strategic partnership between Legal & General and Blackstone.

The partnership will combine the strength of L&G and Blackstone’s respective credit platforms to enhance L&G’s competitive advantage in annuities and bolster its asset management proposition in key geographies and channels. We are advising on the arrangements under which L&G’s annuities business will leverage Blackstone’s private credit origination platform to access a pipeline of diversified investment-grade assets, predominantly in the US.

The Clifford Chance team trusted by L&G with this strategic partnership was led by Gerard Saviola and Benjamin Harding, supported by Sarah Burns, alongside Imogen Ainsworth and Richard Kalaher from our financial institutions and tax teams.