Blackstone Closes Energy Transition Fund at $8.7 Billion
Blackstone closed 'Energy Transition Partners 5' at $8.7 billion, reaching its hard cap and exceeding its previous fund by more than 50%.
Blackstone closed its Blackstone Energy Transition Partners V fund at $8.7 billion, hitting its hard cap, according to Pulse 2.0.
The size of the new fund exceeds its predecessor by more than 50%.
The company stated that it has committed to investing more than $34 billion in equity through this strategy since 1997.
Among the assets acquired under the strategy are Flow Control Holdings, Dresser Utility Solutions, and DarkVision.
What do these terms mean?
Equity: The funds invested by a fund in companies in exchange for an ownership stake, rather than loans.
Fund Hard Cap: The maximum amount of capital a fund sets for itself and will not exceed upon closing.
Energy Transition Fund: An investment fund that directs its capital to projects that reduce emissions or transition from fossil fuels to cleaner sources.
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