(Reuters) – Private equity firm Blackstone said on Tuesday it has hired Tyler Dixon, the former global head of investment banking at Citigroup, to lead client relationships for its credit and insurance unit.
The new role will oversee the Institutional Client Solutions team at Blackstone Credit & Insurance (BXCI), and will work more broadly to partner on BXCI’s growth efforts with borrowers around the world.
Dixon, who has 30 years of experience at Citi, most recently served as head of investment banking and vice president of banking and international.
Recently, private equity firms have started moving into the fast-growing credit sector. With bank capital locked up in risky loans and interest rates rising, bank groups were offering less financing through traditional syndicated loans. It was at this time that private lenders like Blackstone stepped in.
Last year, Blackstone brought together its groups that invest in corporate credit as well as the business that manages money for insurance companies under one umbrella, calling the sector Blackstone Credit & Insurance, or BXCI.