Asset-based lending is a type of loan where a borrower uses tangible assets — such as inventory, accounts receivable, equipment, or real estate — as collateral to secure credit. For investors, it matters because the quality and liquidity of the pledged assets affect the lender’s risk and the borrower’s borrowing capacity; like borrowing against items in a pawnshop, stronger assets generally mean safer loans and clearer recovery options if the borrower defaults.
senior securedfinancial
Senior secured describes a loan or bond that has first claim on a company’s assets and is backed by specific collateral, like a mortgage on property. For investors, that means they are paid before other creditors if the company struggles or is liquidated, reducing the chance of loss compared with unsecured or junior debt. Think of it as a front-of-the-line, collateral-backed claim that typically carries lower interest because of that added protection.
first-out credit facilitiesfinancial
A first-out credit facility is the portion of a multi-layered loan that has priority to receive principal and interest payments before other tranches; it’s effectively the “first in line” for repayment. For investors, being in the first-out slice means lower risk of loss and typically lower yield compared with later-loss positions, so it directly affects expected return, credit exposure and recovery prospects if the borrower hits trouble.
originationfinancial
Origination is the process of creating a new financial asset—most often a loan, mortgage, or other debt—by moving from application through credit checks, approval and funding. Investors watch origination because the amount and quality of newly created loans determine future interest income and default risk; think of it like planting seeds—more seeds can mean a bigger harvest, but poor-quality seeds increase the chance of failure.
underwritingfinancial
Underwriting is the process where a financial institution agrees to buy and then resell new stocks or bonds to investors. It matters because it helps companies raise money quickly and smoothly, while the bank takes on the risk of selling those securities at the agreed price. Think of it like a booker guaranteeing to sell all tickets for a concert before opening the doors.
portfolio managementfinancial
Portfolio management is the process of selecting, organizing, and overseeing a collection of investments to achieve specific financial goals. It involves making decisions about where to put money, balancing risk and reward, and adjusting the mix of investments over time, much like a gardener tending to different plants to ensure a healthy, thriving garden. This helps investors grow their wealth steadily while managing potential losses.
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ALPHARETTA, Ga.--(BUSINESS WIRE)--
Blackstone Credit & Insurance (“BXCI”) today announced the launch of SablePointe Credit Strategies (“SablePointe”), a new platform supporting origination, underwriting, and portfolio management in asset-based lending. SablePointe has hired James Garlick, former co‑founder of Wingspire, as President to lead its buildout and strategic growth.
Headquartered in Alpharetta, Georgia, SablePointe will support BXCI as it sources, structures, and manages senior secured asset-based and first-out credit facilities for corporate borrowers, drawing on the longstanding sponsor and intermediary relationships of the BXCI and SablePointe teams. The platform complements BXCI’s scale, capital, and global reach with specialized industry knowledge and structuring expertise.
“This is an important new platform for origination and strengthens our ability to be a one-stop capital solutions provider for companies,” said Aneek Mamik, Head of Financial Services for Asset Based Finance for BXCI. “We look forward to working with James and his team to originate high-quality opportunities across the asset-based lending markets.”
“The combination of SablePointe’s expertise and BXCI’s scale and existing corporate lending platform will be powerful for both borrowers and our investors,” added Brad Marshall, Global Head of Private Credit Strategies for BXCI.
“It is a tremendous opportunity and a privilege to partner with Blackstone in launching SablePointe,” said James Garlick, President of SablePointe. “We are in the early innings of building a foundation that will support a strategy for BXCI that we expect to grow meaningfully over time, delivering thoughtful credit solutions, disciplined execution, and exceptional service to borrowers, sponsors, and investors.”
SablePointe will initially support BXCI’s asset-based and first-out direct lending credit strategies, with plans to extend its support across additional specialty asset classes over time.
Crown Partners served as exclusive financial advisor to Blackstone in connection with the launch of SablePointe Credit Strategies.
About SablePointe Credit Strategies
SablePointe Credit Strategies is a Blackstone portfolio company supporting Blackstone Credit & Insurance’s origination, underwriting, and portfolio management capabilities across asset-based lending, first-out credit products, and a growing range of specialty asset classes. Additional information is available at www.sablepointecredit.com.
About Blackstone Credit & Insurance
Blackstone Credit & Insurance (“BXCI”) is one of the world’s leading credit investors. Our investments span the credit markets, including private investment grade, asset-based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic credit. We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses. BXCI is also a leading provider of investment management services for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.
