Private investment giant Blackstone has held the final close of its energy-transition-focused private equity fund, Blackstone Energy Transition Partners IV (BETP IV), hitting its hard cap of $5.6bn – 33% larger than its predecessor vehicle.
Blackstone Energy Transition Partners (BETP), Blackstone’s energy-focused private equity business, seeks to help energy companies build enterprises at scale that can deliver cleaner, more reliable and more affordable energy to meet global needs, according to a press statement.
Notable energy transition investments include: Energy Exemplar, which supports grid reliability with a software platform that allows decision-makers to accurately model electric, gas and water energy markets; Sediver, the world’s leading manufacturer of the toughened glass insulators that enable electric transmission grids; and Westwood Professional Services, a leading engineering and consulting firm; Trystar, a premier provider of backup power management solutions.
In addition, BETP has also invested in Lancium, a developer providing long term contracted electrical grid access to large scale data centres, and Potomac Energy Center, a 774-megawatt natural gas and hydrogen-ready power plant.
