Private equity funds managed by Blackstone have entered into a definitive agreement to acquire Sphera — a leading provider of environmental, social and governance (ESG) software, data and consulting services — from Genstar Capital. The investment, which values the company at approximately $1.4 billion, would be made through Blackstone’s flagship private equity vehicle.
Through software-as-a-service, proprietary data and consulting services, Sphera works with organizations around the world to help them surface, manage and mitigate ESG risk in the areas of environment, health, safety and sustainability, operational risk management, and product stewardship. The company has more than 3,000 customers in more than 100 countries.
Eli Nagler, a senior managing director at Blackstone, said, “The increasing importance of environmental, social, governance issues to businesses globally is a key thematic investing focus for Blackstone. Sphera has established itself as a mar