Blackstone Closes Energy Transition Private Credit Fund at $7.1B

Blackstone closed its energy transition credit fund, Blackstone Green Private Credit Fund III (BGREEN III), which closed at its hard cap of $7.1 billion, representing the largest energy transition private credit fund ever raised, according to Blackstone.

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

“The energy transition is impacting large sectors of the economy and is resulting in a growing need for efficient private capital,” Robert Horn, global head of the sustainable resources group for Blackstone Credit, said. “We believe our experience and scale will enable Blackstone Credit to deliver flexible solutions to companies driving this historic transition and generate compelling returns for our investors.”

BGREEN III is managed by Blackstone Credit’s Sustainable Resources Platform, which focuses on providing private credit to the renewable energy, infrastructure and energy transition marketplace. The Platform has approximately 40 investment professionals across North America, Europe and Asia and invests across the credit spectrum in investment grade credit, non-investment grade credit, preferred and convertible securities.

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