Blackstone's headquarters in Midtown Manhattan
NEW YORK—Blackstone has held the final close of its inaugural fundraising phase for Blackstone Infrastructure Partners. Together with previously announced commitments, the closing brings total commitments for the fund to $14 billion.
BIP will invest across all infrastructure sectors, including transportation, energy (utilities, midstream and renewables), communications and water and waste, namely large-scale, infrastructure businesses with a long-dated investment horizon. Investors in BIP include public and private pension plans, sovereign wealth funds, insurance companies, foundations and family offices.
BIP was formed in 2017 with a $20 billion long-term matching anchor commitment from the Public Investment Fund of Saudi Arabia.
Separately, Blackstone has also raised $11.1 billion to invest in secondary assets and investment funds. It is the eighth fund launched by Strategic Partners, Blackstone's secondaries and fund of funds business, according to Institutional Investor. Strategic Partners has raised $43 billion since 2000, investing across the private equity, real estate, and infrastructure asset classes.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
