US firm Blackstone announced it has raised $8.7 billion for its fifth fund dedicated to investing in the energy transition.
The amount represents an increase of more than 50% over the previous fund’s size, after investor demand exceeded the targeted level.
The fund invests in power generation and transmission companies, as well as energy equipment and infrastructure, amid growing global demand for electricity.
Blackstone explained that the fund, which began its investment activity last June, has financed three power generation and transmission platforms and completed three acquisition deals.
The company added that its new investment commitments in the energy transition sector have exceeded $11 billion since the start of 2025.
Meanwhile, the net internal rate of return on its investments in the sector has reached 34% since 1997.
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