Blackstone Raises Over $7B for Record-Breaking Green Energy Credit Fund

Blackstone held the final close of its green energy transition private credit fund, Blackstone Green Private Credit Fund III, which raised $7.1 billion, making it the largest energy transition private credit fund ever raised.

The fund is managed by Blackstone Credit’s Sustainable Resources Platform, which focuses on providing private credit to the renewable energy, infrastructure, and energy transition sectors.

The platform invests in investment grade credit, non-investment grade credit, preferred and convertible securities.

In 2022, Blackstone announced that it sees an opportunity to invest an estimated $100 billion in energy transition and climate change solutions projects over the next decade across its businesses.

“Blackstone has built a premier platform focused on private credit in the energy transition and infrastructure markets. We are grateful for the trust from our limited partners and look forward to investing in this favorable market environment,” said Dwight Scott, Global Head of Blackstone Credit.

Blackstone’s credit unit, which is aligned with its insurance business, now has $295 billion in AUM.