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Laxman Pai, Opalesque Asia:

American alternative investment management company Blackstone Inc. has raised $5.6 billion for a fund that invests in the transition to cleaner energy.

Blackstone Energy Transition Partners IV (BETP IV) reached its fundraising hard cap, with limited partner investors committing 33% more than the predecessor vehicle, according to a press release from the world's largest alternative asset manager based in New York City.

The fund will aim to scale energy companies to deliver 'cleaner, more reliable and more affordable energy to meet global needs.'

"BETP has been recognized as Private Equity International's Energy Private Equity Firm of the Year for an unprecedented three years in a row (2021-2023) and was awarded IJ Investor's Market Innovation of the Year award for North America in 2024 (for transactions occurring in calendar year 2023)," said the release.

David Foley, Global Head of Blackstone Energy Transition Partners, said: "We believe there is immense opportunity to deliver attractive returns to our limited partners through investments that benefit from the growing demand for electricity, grid reliability, and energy efficiency. We are appreciative of this vote of confidence from our investors and are excited to continue partnering with outstanding management teams to build leading companies that are helping support a more reliable, affordable, and secure transition to a cleaner energy future."

Notable energy transition ......................

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