Blackstone Group will acquire quantitative credit investment firm DCI, confirmed Blackstone spokeswoman Kate Holderness in an email Monday.
Terms of the deal were not disclosed.
DCI, which manages $7.5 billion in global investment-grade, high-yield and emerging corporate credit assets, will become part of Blackstone Credit. The acquisition will expand Blackstone Credit’s high yield and investment grade capabilities and will integrate DCI’s models and technology across the combined Blackstone Credit and DCI platforms.
“DCI has a more than 15-year track record of developing and applying technology-driven strategies and is at the forefront of the evolution towards quantitative investing in the corporate bond market,” said Dwight Scott, senior managing director and global head of Blackstone Credit, in a news release. “DCI will strengthen and differentiate the solutions we provide to our retail, institutional and insurance clients.”
Tim Kasta, CEO of DCI, added: “Joining Blackstone Credit will provide DCI’s team and investors with access to unparalleled institutional resources and asset management expertise and accelerate the development of innovative solutions in corporate credit.”
Blackstone does not anticipate any changes to the leadership or management team.
Blackstone Credit had $135 billion in AUM as of Sept. 30.
