Blackstone has announced the final close of its energy-transition-focused private equity fund, Blackstone Energy Transition Partners IV (BETP IV), at its hard cap of $5.6 billion (£4.4bn). The fund is approximately 33% larger than its predecessor, reflecting strong investor confidence in the firm’s energy transition strategy.
BETP is Blackstone’s energy-focused private equity arm, aiming to support companies in scaling up cleaner, more reliable, and affordable energy solutions. The firm has been recognised as Private Equity International’s Energy Private Equity Firm of the Year for three consecutive years (2021-2023) and received IJ Investor’s Market Innovation of the Year award for North America in 2024.
David Foley, Global Head of Blackstone Energy Transition Partners, highlighted the growing demand for electricity, grid reliability, and energy efficiency, stating that BETP IV presents a significant opportunity to generate strong returns while advancing cleaner energy solutions.
Blackstone has already invested in several high-profile energy transition projects aimed at enhancing grid reliability, energy efficiency, and sustainable power generation. Energy Exemplar provides a software platform that enables accurate modelling of energy markets, improving grid reliability. Sediver, the world’s leading manufacturer of toughened glass insulators, plays a critical role in supporting electric transmission grids. Westwood Professional Services, a top engineering and consulting firm, contributes to the development of energy infrastructure, while Trystar specialises in backup power management solutions. Lancium is focused on providing long-term contracted electrical grid access to large-scale data centres, ensuring stability and efficiency in energy use. Additionally, Potomac Energy Center, a 774-megawatt natural gas and hydrogen-ready power plant, reinforces Blackstone’s commitment to supporting the energy transition with cleaner and more resilient power solutions.
With the latest fund closing, Blackstone is set to further expand its presence in the energy transition sector, backing companies that contribute to a more reliable, affordable, and sustainable energy future.
