Blackstone closes $2.5bn energy fund
Blackstone has held a final close for its first energy-focused private equity fund, Blackstone Energy Partners (BEP), on $2.5bn.
The fund closed $500m above its initial target.
Investments
The fund solely invests in the energy and natural resources sector across the world.
BEP held a first close in August 2011 and has already invested $965m in six targets. Blackstone's $16bn Capital Partners IV fund invests alongside BEP.
People
David Foley, global head of energy and natural resources for Blackstone Private Equity, is CEO of the fund.
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