Blackstone Buys Stake in Infrastructure Firm ITE Management

Blackstone Inc.’s credit and insurance arm is purchasing a minority stake in ITE Management — a firm focused on investing in transportation infrastructure — and is buying as much as $2 billion of investments from it, according to a statement.

The arrangement will give ITE financing and capital to make investments in the sector, according to Wednesday’s statement. Blackstone declined to disclose the size of the stake and purchase price. The firm is providing ITE with as much as $2 billion in funds through a forward-flow arrangement, where investors typically pay for the ability to purchase future debt or equity investments that haven’t been made yet, while giving the lender quicker access to capital.