Blackstone Forms Insurance Partnership With Resolution Life

Blackstone is joining with the insurance company Resolution Life in a move that is ultimately expected to give the investment firm more than $60 billion in new assets to manage, executives at both companies said.

Blackstone will invest $500 million in privately held Resolution Life and help it raise roughly $2.5 billion more, giving the insurance company more firepower to acquire new blocks of policies in the reinsurance and life-and-annuities sectors.