Blackstone has announced the close of its energy transition credit fund at $7.1bn.
Blackstone says their Green Private Credit Fund III represents the largest energy transition private credit fund ever raised. The fund is managed by Blackstone Credit’s Sustainable Resources Platform which provides private credit to the renewable energy, infrastructure, and energy transition market and invests in investment grade credit, non-investment grade credit, preferred and convertible securities.
Robert Horn, Global Head of the Sustainable Resources Group for Blackstone Credit, says, “The energy transition is impacting large sectors of the economy and is resulting in a growing need for efficient private capital. We believe our experience and scale will enable Blackstone Credit to deliver flexible solutions to companies driving this historic transition and generate compelling returns for our investors.”