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Blackstone Launches $5 Billion Energy Equity Fund
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Blackstone announced the commencement of the investment period for its second energy-focused private equity fund, Blackstone Energy Partners II (BEP II), with total commitments of $4.5 billion.
BEP II received significant interest from both existing and new investors, with demand well surpassing the fund’s $4.5 billion hard cap. Investors in the fund include a diverse group of U.S. state pension funds, corporate pension funds, sovereign wealth funds, insurance companies, endowments, foundations and family offices.
Like its predecessor fund BEP I, a $2.4 billion fund that had its final close in September 2012, BEP II will invest in control-oriented equity and equity-linked interests in companies, assets and development projects in the energy and natural resources sector on a global basis.
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