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Blackstone completes fifth energy fund at $8.7B
Blackstone's Fifth Energy Transition Fund (BETP V) closed at $8.7 billion, surpassing its targets and benefiting from a strong performance that has continued since 1997, achieving a net internal rate of return of 34%. The fund focuses on financing power generation projects and infrastructure, having begun its investments in June, funding three companies, and making acquisitions to enhance infrastructure efficiency and reliability. Since January 2025, the company's investments have exceeded $11 billion, including the sale of stakes in companies such as Sabre Industries and Aypa Power, as well as an initial public offering of Legence, as part of expansion efforts in renewable energy and electrical infrastructure improvement.
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