Taiwan’s Cathay Life Insurance has agreed to invest $100 million in Strategic Partners GP Solutions, according to a stock exchange filing.
The fund is managed by Blackstone Strategic Partners and targets GP-led secondary deals as well as co-investments in North America and Western Europe.
Blackstone Strategic Partners acquires stakes in funds across asset classes, including private equity, infrastructure, real estate and impact investing. It had $38 billion in assets under management, as of March 31, 2021.
Blackstone had acquired Strategic Partners from Credit Suisse in 2013.
Earlier, in February this year, Cathay Life Insurance had approved an investment of $50 million in Blackstone Strategic Capital Holdings II, which was launched by Blackstone with a target size of $4 billion. Previously, Blackstone had closed its Strategic Capital Holdings I at $3.3 billion in 2015.
The insurer recently also allocated capital to a slew of other funds, including Insight Partners XII, Thomas H Lee Equity Fund IX, Hellman & Friedman Capital Partners X, Coatue Growth V Offshore Feeder Fund and buyout firm Genstar Capital’s mid-market fund Genstar Capital Partners X.
Cathay Life is one of the largest life insurance players in Taiwan. It offers a full range of insurance solutions that comprise life, health, travel, accidents and annuity, among others. The insurer, which has subsidiaries in China and Vietnam, has so far served nearly 8 million users.