Louisiana Teachers backs Blackstone energy fund ahead of $8.5bn final close
The Teachers’ Retirement System of Louisiana has committed $50 million to Blackstone’s latest energy-transition private equity fund. The fund, which targets an $8.5 billion hard cap, focuses primarily on North American energy projects.
Why it matters
Institutional investment in energy transition funds signals continued capital flow toward sustainable infrastructure and private equity growth in the green energy sector.
Blackstone expects to hold the final close for its latest energy-transition-focused private equity fund this month, targeting its $8.5bn (€7.3bn) hard cap, according to documents prepared for the Teachers’ Retirement System of Louisiana.
Louisiana Teachers has backed Blackstone Energy Transition Partners (BETP) V with a $50m commitment.
The fund targets a 20% net internal rate of return (IRR), with 85% of investment focused on North America, mostly in the US, and 15% targeted at Europe.
BETP V fund held its first close in June.
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