Blackstone hires Citi veteran Tyler Dickson for key credit position

July 9 (Reuters) – Blackstone Inc (BX.N)opens new tab has hired Tyler Dickson, the former global head of investment banking at Citigroup, to lead client relationships at its credit and insurance unit, the private equity firm said Tuesday.

In the new role, you will oversee Blackstone Credit & Insurance’s (BXCI) Institutional Client Solutions team and, more broadly, participate in BXCI’s loan origination efforts with borrowers around the world.

Dickson has been with Citi for 30 years and was most recently head of investment banking and vice chairman of banking and international.

Private equity firms have recently turned to the fast-growing lending business. With banks’ capital tied up in risky loans and interest rates rising, banking groups provided less financing through traditional syndicated loans. That’s when private lenders like Blackstone stepped in.

Last year, Blackstone brought together its corporate credit investing groups and a business that manages money for insurers under one roof, calling the segment Blackstone Credit & Insurance, or BXCI.

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Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shailesh Kuber

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