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Blackstone Closes Energy Fund at $4.5B

NEW YORK CITY—Blackstone Energy Partners, targeting a broad spectrum of sectors, aims to take advantage of the recent downturn in oil and gas prices, says CEO David Foley.

By Paul Bubny | Updated on February 23, 2015

NEW YORK CITY—Fundraising is concluded and now investment begins for Blackstone‘s second energy-focused private equity fund. Demand for Blackstone Energy Partners II from both existing and new investors exceeded its hard cap of $4.5 billion. 

In common with Blackstone Energy Partners I, BEP II will invest globally in control-oriented equity and equity-linked interests in companies, assets and development projects in the energy and natural resources sector. BEP I closed in September 2012 at slightly more than half the new fund’s size with $2.4 billion of commitments; Blackstone has deployed more than $8 billion in its energy strategy.

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