Blackstone closed its third green private credit fund at its hard cap $7.1 billion, a record in the energy transition private credit arena.
Managed by Blackstone Credit’s Sustainable Resources Platform, Blackstone Green Private Credit Fund III offers private credit to the renewable energy, infrastructure and energy transition marketplace. Last year officials were poised to take advantage of an estimated $100 billion in energy transition and climate change solutions projects over the next decade across its businesses.
“The energy transition is impacting large sectors of the economy and is resulting in a growing need for efficient private capital,” said Robert Horn, global head of the Sustainable Resources Group for Blackstone Credit. “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.”
Horn oversees a team of 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.
Blackstone’s credit unit, which is aligned with its insurance business, now has $295 billion in AUM.
“Blackstone has built a premier platform focused on private credit in the energy transition and infrastructure markets,” said Dwight Scott, global head of Blackstone Credit. “We are grateful for the trust from our limited partners and look forward to investing in this favorable market environment.”
