Various asset supervisor Blackstone introduced that it has raised $5.6 billion for its vitality transition-focused non-public fairness fund, Blackstone Power Transition Companions IV, closing the fund at its arduous cap.
Blackstone Power Transition Companions invests globally throughout sectors within the vitality trade, serving to vitality corporations to construct enterprises at scale that may ship clear, dependable and reasonably priced vitality. The platform invests throughout the vitality transition worth chain in areas together with prime quality gear, service and know-how suppliers, and large-scale infrastructure initiatives that contribute to decarbonization.
Backstone launched BETP IV in 2022, and at $5.6 billion the fund is roughly 33% bigger than its predecessor automobile. Notable investments up to now embrace grid reliability software program platform Power Exemplar, electrical insulator options firm Sediver, renewables and energy infrastructure-focused engineering and consulting agency Westwood Skilled Companies, and backup energy options supplier Trystar.
In 2022, Blackstone mentioned that it sees a possibility to speculate an estimated $100 billion in vitality transition and local weather change options initiatives over the subsequent decade.
David Foley, International Head of Blackstone Power Transition Companions, mentioned:
“We imagine there may be immense alternative to ship engaging returns to our restricted companions by way of investments that profit from the rising demand for electrical energy, grid reliability and vitality effectivity. We’re appreciative of this vote of confidence from our traders and are excited to proceed partnering with excellent administration groups to construct main corporations which can be serving to help a extra dependable, reasonably priced and safe transition to a cleaner vitality future.”
