Blackstone closes energy transition credit fund III at $7.1b

Blackstone has announced the closing of its energy transition credit fund, BGREEN III, at $7.1 billion, making it the largest energy transition private credit fund ever raised. The fund will focus on providing private credit to the renewable energy, infrastructure, and energy transition sectors. Blackstone Credit, the asset management arm of Blackstone, aims to invest an estimated $100 billion in energy transition and climate change projects over the next decade. With $295 billion in assets under management, Blackstone Credit seeks to generate attractive returns by investing across the corporate credit market.

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