Cathay Financial Holding, Taiwan’s leading financial group, has made a US$100m (€86m) commitment to Blackstone’s $14bn infrastructure fund.
Cathay Financial said the investment to the open-ended Blackstone Infrastructure Partners fund was made on behalf of its insurance arm Cathay Life Insurance.
Cathay Finance has been an existing investor with Blackstone since 2008, when it invested in private equity and other strategies.
Its most recent investment with Blackstone was made in August, with a US$100m allocation to the Blackstone Strategic Partners Fund IX. It was one of three allocations by Cathay Financial, along with one to Neuberger Berman’s Dyal Capital Partner V fund and one to Landmark Equity Partners Fund, operated by Landmark Partners.
Blackstone recently reopened its Blackstone Infrastructure Partners fund, which raised an initial US$14bn in 2019.
During its third quarter earnings call last month, Blackstone’s president and chief operating offer, Jonathan Gray, said it had decided to reopen fundraising for the fund.
Blackstone chairman, CEO and co-founder, Stephen Schwarzman, said the open-ended infrastructure fund would begin to raise capital on a quarterly basis.
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