Blackstone has announced the final closing of its Blackstone Energy Transition Partners IV (BETP IV) fund at its hard cap of $5.6 billion, which is approximately 33 percent larger than its predecessor vehicle.
Law firm Kirkland & Ellis advised Blackstone on the final close.
Blackstone Energy Transition Partners (BETP) is Blackstone’s energy-focused private equity business, which seeks to help energy companies build enterprises at scale that can deliver cleaner, more reliable and more affordable energy to meet global needs.
“We believe there is immense opportunity to deliver attractive returns to our limited partners through investments that benefit from the growing demand for electricity, grid reliability and energy efficiency,” said David Foley, global head of BETP. “We are appreciative of this vote of confidence from our investors and are excited to continue partnering with outstanding management teams to build leading companies that are helping su
