Blackstone Energy Transition Partners V (BETP V) has reached its hard cap and concluded fundraising at $8.7 billion — a close that was more than 50 percent larger than its predecessor vehicle.
BETP V began its investment period in June and already has funded three distinct platform companies (Kindle, Fisterra and Viridon), backing proven management teams to develop and operate new power generation and electric transmission lines. The fund also has made three acquisitions focused on energy efficiency and resiliency, including Flow Control Holdings, a rapidly growing U.S. provider of highly engineered flow control solutions and components for data center liquid cooling; Dresser Utility Solutions, the North American provider of measurement (meters), control (regulators, pressure relief valves) and infrastructure repair products for gas and water utilities; and DarkVision, a provider of innovative, technology-enabled asset inspection services that enhance the safety, reliabilit
