Blackstone recruited Erich Schram and Kevin Relihan for its new business, the Blackstone Insurance Solutions (BIS) group, according to a company press release.
The new business, which started in January with the appointment of Chris Blunt from New York Life’s Investments Group, partners with insurers and provides Blackstone’s private credit and alternative management expertise.
Blackstone positioned Schram, who was formerly a chief investment officer at Guggenheim Life and Annuity Company, as BIS’s senior managing director and head of credit origination and trading. He brings experience in investment management and the insurance market.
Relihan joins from Goldman Sachs Asset Management’s insurance division, where he was a former managing director. At BIS, he will be a managing director and head of relationship management. He brings experience advising insurers, according to the release.
Blackstone, headquartered in New York, is an investment firm with $450 billion in AUM in its asset management division.