insurers

The insurance giant has promoted a member of its global credit investment team to lead its $10bn push into alternatives, Private Equity International has learned.

Gilles Dellaert will lead Blackstone Insurance Solutions, a part of the business with a lot of growth potential.

Almost two-fifths plan to raise their PE exposure over the next 12-24 months, a report from the asset management giant finds.

Private equity is expected to deliver the highest returns in the next 12 months by 43% of respondents, the highest of any asset class, according to GSAM research.

The two asset management behemoths plan to tap an additional investor outlet.

The firm is acquiring a 19.9% stake in DSA Reinsurance from AIG in a deal that includes $6bn earmarked for Carlyle funds.

Insurers have nearly doubled their allocation to private equity since 2014 as part of an effort to combat a challenging investment environment.

Global firms want to increase their allocations to private equity more than any other asset class.

The US insurer has already received first-round bids for the bundle of stakes it wants to sell on the secondaries market.

A special committee led by the Chinese Insurance Regulatory Commission has taken control of the operations of Anbang Insurance for one year.