Blackstone closes fifth energy transition fund at $8.7B hard cap

Blackstone closed its fifth energy transition fund, Blackstone Energy Transition Partners V, at its $8.7 billion hard cap, more than 50% above the $5.6 billion raised by its predecessor, Dakota Private Markets reported.

Blackstone said its energy transition investments have generated a 34% net IRR since 1997. The control-oriented strategy targets energy businesses positioned to benefit from demand for cleaner, more reliable and affordable power, and generally excludes direct ownership of hydrocarbon reserves.

Source: Dakota Private Markets.

Source statements are attributed; this is not investment advice.