Blackstone has successfully closed its latest energy transition-focused fund, Blackstone Energy Transition Partners IV (BETP IV), raising $5.6 billion—33% more than its predecessor. The fund will continue Blackstone’s strategy of investing in companies focused on cleaner, more reliable, and cost-efficient energy solutions.
BETP IV has already begun making significant moves, such as partnering with Vista Equity Partners to acquire Energy Exemplar for $1 billion and purchasing several other energy companies, including Sediver, Westwood Professional Services, Trystar, Lancium, and Potomac Energy Center. To date, BETP has invested $23.5 billion globally in the energy sector, targeting opportunities that address growing demand for electricity, grid reliability, and energy efficiency.
David Foley, global head of Blackstone Energy Transition Partners, emphasized the fund’s commitment to generating attractive returns while supporting the transition to cleaner energy options. “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,” Foley stated.
