Blackstone open-ended infrastructure fund raises $12bn

Blackstone has raised $12bn (€10.6bn) for its first open-ended infrastructure fund, according to people familiar with the matter.

In July last year, IPE Real Assets reported that the Blackstone Infrastructure Partners fund, which is backed by the Public Investment Fund (PIF) of Saudi Arabia, had raised $5bn, but had yet to reveal any specific investments made.

According to sources, the fund is now expected to reach $12bn, half of which had been raised from PIF and the remaining from third-party investors.

IPE Real Assets understands that in the near future, the manager intends to temporarily halt capital raising so it can deploy existing capital.

So far the fund is known to have invested $3.3bn for a 44% interest in Tallgrass Energy based in Kansas and has also invested an undisclosed amount in Carrix, one of the world’s largest marine terminal operators.

Blackstone Infrastructure Partners targets core and core-plus assets primarily in North America.

Blackstone declined a request for comment.

 

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