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Laxman Pai, Opalesque Asia:

Alternative investment manager Blackstone has raised $7.1 billion at the final close of its energy transition credit fund, Blackstone Green Private Credit Fund III (BGREEN III).

The credit-focused asset managers said in a media release that the fund is the largest energy transition private credit fund ever raised.

Dwight Scott, Global Head of Blackstone Credit, said: "Blackstone has built a premier platform focused on private credit in the energy transition and infrastructure markets. We are grateful for the trust from our limited partners and look forward to investing in this favorable market environment."

Investors in BGREEN II include $248.5 billion New York State Common Retirement Fund, Albany; $126.8 billion Wisconsin Retirement System, Madison; $61.5 billion Tennessee Consolidated Retirement System, Nashville; and $5 billion Houston Firefighters' Relief and Retirement Fund.

Robert Horn, Global Head of the Sustainable Resources Group for Blackstone Credit, said: "The energy transition is impacting large sectors of the economy and is resulting in a growing need for efficient private capital. We believe our experience and scale will enable Blackstone Credit to deliver flexible solutions to companies driving this historic transition and generate compelling returns for our investors."

BGREEN III is managed by Blackstone Credit's Sustainable Resources Platform, which focuses on providing private credit to the renewable energy,......................

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