Blackstone Energy Partners Closes at $2.5 Billion

Blackstone

today announced the final closing on just over $2.5 billion for Blackstone Energy Partners ("BEP") its first dedicated energy focused private equity fund. BEP invests in control and control-oriented equity investments within the energy and natural resources sector on a global basis. Blackstone Capital Partners VI, Blackstone's $16 billion diversified global private equity fund invests alongside BEP in energy and natural resources transactions. David Foley, CEO of the fund and global head of energy and natural resources for Blackstone's Private Equity Group, said: "We are pleased with the warm reception this fund received in an otherwise difficult fund raising environment and appreciate the participation of all the investors who committed to the fund. Our core team of private equity professionals has built a terrific franchise at Blackstone in this sector over the last decade, and our differentiated strategy continues to generate attractive new investment opportunities.”