Blackstone has successfully closed its energy transition-focused private equity fund, Blackstone Energy Transition Partners IV (BETP IV), at its hard cap of $5.6 billion. The fund, 33% larger than its predecessor, reflects the firm’s growing emphasis on accelerating the shift to cleaner, more resilient, and cost-effective energy solutions.
Scaling Investments in the Energy Transition
As Blackstone’s focused energy-dedicated private equity business, Blackstone Energy Transition Partners (BETP) is at the forefront in financing companies that drive energy efficiency, grid reliability, and sustainability.
The company’s leadership within the industry has been globally acclaimed, having received Private Equity International’s Energy Private Equity Firm of the Year for three years (2021-2023) and winning IJ Investor’s Market Innovation of the Year award for North America in 2024.
David Foley, Global Head of Blackstone Energy Transition Partners, said, “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.”
He added, “We are appreciative of this vote of confidence from our investors and are excited to continue partnering with outstanding management teams to build leading companies that are helping support a more reliable, affordable and secure transition to a cleaner energy future.”
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Expanding Portfolio of Energy Transition Investments
BETP IV will continue investing in companies that advance clean energy and grid modernization. Blackstone’s recent investments include Energy Exemplar, a software platform that enhances decision-making in electric, gas, and water energy markets, and Sediver, a global leader in manufacturing toughened glass insulators for electric transmission grids.
Additionally, the firm has backed Westwood Professional Services, a major engineering and consulting company, and Trystar, which provides backup power management solutions.
BlackStone’s energy transition fund is also supporting Lancium, a developer securing long-term electrical grid access for large-scale data centers, and Potomac Energy Center, a 774-megawatt natural gas and hydrogen-ready power plant.