Investment firm Blackstone has appointed Erich Schram as Senior Managing Director, Head of Credit Origination and Trading and Kevin Relihan as Managing Director, Head of Relationship Management at its recently established Blackstone Insurance Solutions (BIS) group.
BIS delivers Blackstone’s private credit and alternative investment management expertise to insurers, helping firms meet long-term policyholder obligations and drive shareholder value.
Schram joins Blackstone from Guggenheim Life and Annuity Company, where he most recently served as Chief Investment Officer and was responsible for all direct investments and asset allocation.
Relihan most recently served as Managing Director and Co-Head of Goldman Sachs Asset Management’s North American Insurance Client Advisory business, where he led sales and service activities for the Americas.
Chris Blunt, Chief Executive Officer (CEO) of BIS, said: “We are excited to welcome Erich and Kevin to the BIS team as we continue to build the business as a trusted partner to insurers.
“Erich’s investment management expertise and deep knowledge of the insurance market will add tremendous value to BIS. Likewise, we look forward to leveraging Kevin’s strong relationships across the industry and experience advising insurers on a range of issues as we grow the business.”
Schram also commented: “I am excited to join the BIS team as it continues to expand its offerings to the insurance industry. I believe there is a particularly significant, potential opportunity to use Blackstone’s unique access to private credit opportunities to help deliver enhanced investment performance for insurers.”
Relihan added: “I am pleased to join Chris, Erich and the other experienced individuals on the Blackstone Insurance Solutions team. Given its wide range of capabilities and products, Blackstone is a great partner for insurers seeking solutions to help better manage their long-term liabilities to policyholders.”
Blackstone says the appointments of Schram and Relihan mark the continued expansion of the BIS business, which was launched in January 2018 with the appointment of Blunt as CEO, who formerly served as President of New York Life’s Investments Group.
