South Dakota Investment Council has plans to commit up to $100 million to Blackstone Energy Partners III, a private equity energy fund managed by Blackstone, according to an investment meeting document. The pension fund’s board is still finalizing the potential investment.
Blackstone Energy Partners III is an opportunistic energy and natural resource fund. The fund is targeting around $4.5 billion in equity commitments.
The fund also recently received a $200 million commitment from the $76.6 billion Oregon Public Employees Retirement Fund.
The second fund in the series, Blackstone Energy Partners II, held a $4.5 billion final close in 2015. During the past 15 years, Blackstone has invested in more than $40 billion of infrastructure-related projects globally.
