Blackstone completed fundraising for its energy-focused private equity fund, Blackstone Energy Transition Partners IV, closing at its $5.6bn hard cap.

The fund is 33% larger than its predecessor, reflecting strong investor demand for energy transition investments.

Blackstone Energy Transition Partners focuses on building large-scale enterprises that deliver cleaner, more reliable, and affordable energy. The firm has been recognized as Private Equity International’s Energy Private Equity Firm of the Year for three consecutive years and received IJ Investor’s Market Innovation of the Year award for North America in 2024. They will also be speaking at the Italy Private Equity Conference in Milan in May 2025.

David Foley, Global Head of Blackstone Energy Transition Partners, highlighted the investment potential in energy transition, citing growing demand for electricity, grid reliability, and energy efficiency. He expressed appreciation for investor confidence and emphasized Blackstone’s commitment to partnering with management teams to drive the clean energy shift.

The fund has invested in companies such as Energy Exemplar, a software platform improving grid reliability, and Sediver, a global leader in toughened glass insulators for electric grids. Other key investments include Westwood Professional Services, an engineering consultancy; Trystar, a backup power management provider; Lancium, a developer securing long-term grid access for data centers; and Potomac Energy Center, a 774-megawatt natural gas and hydrogen-ready power plant.

Blackstone has invested approximately $23.5bn in energy equity across multiple sectors globally. Its strategy focuses on providing flexible capital to help energy companies scale, improve performance, and accelerate the transition to cleaner energy. The firm aims to generate long-term value for investors while supporting job creation and industry innovation.