Blackstone is committing A$300m (€185m) to Symphony Infrastructure Partners, an Australian platform focused on infrastructure services for the energy transition.
Blackstone is investing the capital via funds managed by Blackstone Tactical Opportunities, an opportunistic investment platform.
In addition to Blackstone’s investment, Symphony said it also raised A$188m in senior debt facility, bringing the total raised in its Series-A financing round to A$488m.
Symphony, founded in 2022, describes itself as a one-stop shop for renewable energy generators requiring network connections to the grid.
The new funding is expected to enable Symphony to complete the acquisition of five new portfolio companies.
Butler, Symphony’s founder and group chief executive officer, said: “This financing round marks a significant milestone in delivering on our sole mission as a group – to accelerate the energy transition.”
Daniel Kearns, managing director at Blackstone Tactical Opportunities, said: “At Blackstone, the energy transition is a major investment theme both globally and in Australia, where we’ve made marquee investments in companies with innovation solutions that address the world’s transition into renewable energy.
He said Australia was still in the early stages of its energy transition journey, and Blackstone would help provide the capital and resources to fuel Symphony’s continued growth.
Michael Blickstead, Blackstone’s head of Australia and New Zealand private equity, said the firm’s success in Australia and around the world had been based on two factors; partnering and having close alignment with visionary founders and building businesses through its scale and expertise.
“We bring this same commitment to Symphony, where we will provide our full breadth of resources and capabilities to support the company’s long-term success.”
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