Blackstone is discussing partnerships with regional banks

 

Private equity and real estate asset manager Blackstone is conducting talks with U.S. regional banks.   Through a partnership, Blackstone plans to help the banks with constraints in areas such as car loans and home improvement loans.  The New York-based firm's president Jonathan Gray pointed out that the outflow of deposits in the regional banks opens up opportunities to partner with them at scale.  However, he did not reveal the names of the banks the company is in talks with.  Blackstone commented that this is a golden moment for the company to expand its credit business.  During the first quarter earnings call, Gray assured investors the company would continue to grow despite the real estate market slowdown in certain pockets.