Blackstone Raises $2 Billion Infrastructure Fund

US private equity giant Blackstone is planning to raise a $2 billion infrastructure fund as it shifts its focus away from the troubled buy out market, according to reports. Although there is no set target as of yet, the firm

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US private equity giant Blackstone is planning to raise a $2 billion infrastructure fund as it shifts its focus away from the troubled buy-out market, according to reports.

Although there is no set target as of yet, the firm is reported to looking to raise between $2 billion and $3 billion for the fund, with fundraising beginning in the next few weeks.

The fund will target various areas of infrastructure primarily in the US.

The news follows reports that US buy-out firm Kohlberg Kravis Roberts & Co. will raise between $4 billion and $5 billion for its maiden infrastructure fund.

Last month, Blackstone and special purpose acquisition company Hicks Acquisition amended their transaction agreement for the $3.2 billion IPO of Graham Packaging. The amendment means that it is now easier for both parties to terminate the agreement.

Hicks Acquisition will own approximately 66% of the company, with the Graham Group and Blackstone taking the remaining 34% stake.

D.C.

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