Blackstone has successfully closed its inaugural fundraising phase for the open-end Blackstone Infrastructure Partners (BIP) fund with $14 billion in capital commitments, the firm announced Thursday.
The diverse mix of investors includes public and private pension plans, sovereign wealth funds, insurance companies, foundations and family offices.
“We are appreciative of the support, confidence and trust Blackstone Infrastructure Partners has received from our valued investors,” said Sean Klimczak, global head of infrastructure at Blackstone. “Our focus on large-scale, high-quality infrastructure businesses with a long-dated investment horizon positions us to be an investment partner of choice.”
He added, “These investments will allow us to deliver much-needed improvements to our nation’s infrastructure, create jobs and enhance America’s economic growth, productivity and global competitiveness.”
BIP invests across a variety of infrastructure sectors, including transportation, energy (utilities, midstream and renewables), communications, water and waste.
The joint venture fund was formed in 2017 with a $20 billion long-term matching anchor commitment from the Public Investment Fund of Saudi Arabia, according to Blackstone.
The firm has $545 billion in assets under management, which includes investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets, and secondary funds.
