Blackstone said it closed its latest energy-transition-focused private equity fund on Wednesday at $5.6 billion, marking a 33 percent increase from its predecessor and underscoring strong investor demand for cleaner energy investments.
The fund, Blackstone Energy Transition Partners IV, hit its hard cap and will target investments in businesses supporting a more reliable and cost-effective shift to cleaner energy, the private equity giant said in a statement.
David Foley, global head of Blackstone Energy Transition Partners, said the firm sees “immense opportunity” to generate strong returns while capitalizing on rising demand for electricity, grid reliability and energy efficiency.
Investment Track Record
BETP, Blackstone’s energy-focused private equity arm, has invested about $23.5 billion in energy projects globally. The unit has won Private Equity International’s Energy Private Equity Firm of the Year award three years running and was named IJ Investor’s Market Innovation of the Year for North America in 2024.
Blackstone’s energy transition portfolio includes software provider Energy Exemplar, power management firm Trystar, and Sediver, a leading manufacturer of glass insulators for transmission grids.
Other investments include Lancium, a developer of large-scale data center grid access, and Potomac Energy Center, a 774-megawatt natural gas and hydrogen-ready power plant.
The fundraising success underscores investor appetite for private equity-backed energy transition initiatives as governments and businesses worldwide seek to reduce carbon emissions while maintaining energy security.
