Blackstone Announces $8.7 Billion Final Close for Blackstone Energy Transition Partners V
Business Wire•19/10/2026•08:00 ET
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Key Highlights
- ➤BETP V closes at $8.7 billion, more than 50% larger than its predecessor
- ➤BETP V reaches its hard cap after becoming significantly oversubscribed
- ➤BETP investments generate 34% net IRR since 1997, as of June 30
- ➤BETP V begins investing with three platform companies and three acquisitions
- ➤BETP commits over $11 billion in new equity investments since January 2025
Expert Statements
David Foley, Global Head of Blackstone Energy Transition Partners
“We believe there is a generational opportunity for experienced investors in the energy transition to provide solutions to the challenges posed by growing demand for electricity.”
David Foley, Global Head of Blackstone Energy Transition Partners
“By backing exceptional management teams with flexible, patient equity capital to increase manufacturing capacity, recruit and train skilled labor and construct new critical energy infrastructure assets, BETP is delivering those solutions and in the process building these companies to scale, creating jobs and generating lasting value for our investors.”
David Foley, Global Head of Blackstone Energy Transition Partners
“We are deeply grateful for the trust of our investors and look forward to deploying BETP V in investments that advance the transition to a more affordable, reliable and cleaner energy future.”
Blackstone Announces $8.7 Billion Final Close for Blackstone Energy Transition Partners V
Blackstone (NYSE: BX) today announced the final close of Blackstone Energy Transition Partners V (“BETP V”) at $8.7 billion – more than 50% larger than its predecessor vehicle. The significantly oversubscribed fund reached its hard cap and builds on the strong performance of the strategy’s prior vintages.
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