Ara closes $2.5bn conventional-energy fund as Blackstone hits $8.7bn hard cap
The pool combines $1.8bn fund commitments with $700m co-investment; Blackstone's transition fund is more than 50% larger than its predecessor.
At a glance
Ara Partners has closed Ara Energy Fund I at $2.5 billion, combining $1.8 billion of fund commitments with $700 million of co-investment for power, biofuels and fuel distribution assets.
Blackstone closed Blackstone Energy Transition Partners V at an $8.7 billion hard cap, more than 50% above the $5.6 billion fourth vintage.
The $700 million co-investment sleeve is 28% of the $2.5 billion headline, leaving $1.8 billion committed to the fund itself.
Ara Partners has closed Ara Energy Fund I at $2.5 billion, combining $1.8 billion of fund commitments with $700 million of co-investment for power, biofuels and fuel distribution assets. The firm calls the inaugural pool a conventional-energy fund, not a transition fund.
Blackstone closed Blackstone Energy Transition Partners V at an $8.7 billion hard cap, more than 50% above the $5.6 billion fourth vintage. The two closes came within a day of each other, according to our records.
The $700 million co-investment sleeve is 28% of the $2.5 billion headline, leaving $1.8 billion committed to the fund itself.
Blackstone's new vehicle has already funded three platform companies and three acquisitions.
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