Blackstone's $7B Record Energy Transition Fund

Blackstone has proudly unveiled the successful conclusion of its dynamic energy transition credit fund, the illustrious Blackstone Green Private Credit Fund III (BGREEN III).

An extraordinary achievement, BGREEN III has effortlessly reached its impressive milestone of $7.1 billion, solidifying its position as the largest-ever private credit fund exclusively dedicated to driving energy transition initiatives.

Dwight Scott, the astute Global Head of Blackstone Credit, expressed his gratitude, stating, "Blackstone has meticulously constructed a preeminent platform centred around private credit within the energy transition and infrastructure sectors. The unwavering trust of our esteemed limited partners fills us with appreciation, and we eagerly anticipate the prospect of strategically investing in this propitious market landscape."

Robert Horn, the distinguished Global Head of the Sustainable Resources Group at Blackstone Credit, emphasised, "The sweeping energy transition is catalysing profound transformations across extensive sectors of the global economy, necessitating an escalating demand for agile private capital.

Drawing upon our extensive expertise and substantial scale, Blackstone Credit is ideally positioned to furnish adaptable solutions to enterprises propelling this historic paradigm shift while concurrently delivering compelling, sustainable returns for our valued investors."

Under the adept stewardship of Blackstone Credit's Sustainable Resources Platform, BGREEN III is strategically overseen. This innovative platform is steadfastly dedicated to furnishing private credit to the burgeoning realms of renewable energy, infrastructure, and energy transition initiatives.

Spanning North America, Europe, and Asia, the Platform boasts a dynamic team of approximately 40 adept investment professionals. Its portfolio encompasses a diverse credit spectrum, encompassing investment grade credit, non-investment grade credit, as well as preferred and convertible securities.

In a visionary proclamation in 2022, Blackstone articulated its intent to allocate an approximate sum of $100 billion over the ensuing decade toward catalysing energy transition and climate change solutions across its multifaceted enterprises.

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Source: Blackstone