Blackstone Closes $5.6 Bln Energy Transition Fund

(RTTNews) - Blackstone Inc. (BX) Wednesday announced the final close of its energy-transition-focused private equity fund, Blackstone Energy Transition Partners IV or BETP IV, at its $5.6 billion hard cap. The fund is 33 percent larger than its predecessor.

Blackstone Energy Transition Partners or BETP drives large-scale investments in cleaner, more reliable, and affordable energy solutions. Recognized as Private Equity International's Energy Private Equity Firm of the Year (2021-2023) and IJ Investor's Market Innovation of the Year (2024), BETP continues to lead the energy transition sector.

Blackstone Energy Transition Partners has invested in Energy Exemplar, a software platform for grid reliability modeling; Sediver, the leading manufacturer of glass insulators for transmission grids; and Westwood Professional Services, a top engineering and consulting firm.

Additional investments include Trystar, a provider of backup power management solutions; Lancium, which offers long-term grid access for large data centers; and Potomac Energy Center, a 774-megawatt natural gas and hydrogen-ready power plant.

BX is currently trading at $158.81 or 1% higher on the NYSE.