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(Bloomberg) -- 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.

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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.

Blackstone will partner with ITE on large-scale transportation infrastructure investment opportunities across the capital structure and return spectrum, said Robert Horn, global head of infrastructure and asset-based credit for Blackstone’s credit and insurance arm.

The infrastructure and asset-based credit platform within Blackstone’s credit and insurance arm manages more than $90 billion, according to the statement. Blackstone is among the private credit companies that have been expanding beyond corporate lending to finance everything from auto loans to chip manufacturing and data centers. It’s part of a race to grab a bigger share of a universe of potential investments that Apollo Global Management Inc. has said could be as large as $40 trillion.

ITE, a $10 billion asset manager, focuses on transportation-infrastructure investments, including rail, intermodal, specialty aviation, port, infrastructure equipment and electric vehicles. Co-founders Jason Koenig and David Smilow will continue to operate ITE, according to the statement.

(Updates to add detail from a Blackstone executive in the third paragraph. A previous version corrected what exactly the forward-flow arrangement entails in this case. Before that, an update was made to add details about the arrangement and the division.)

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