Deals
Blackstone Seeks $10 Billion for Infrastructure
- Firm seeks $5 billion to $10 billion to add to Saudi PIF money
- Fund targets 10% return; Gray, Baratta on investment committee
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Blackstone Group LP, the private equity giant with ambitions for the largest-ever infrastructure fund, is seeking as much as $10 billion to supplement a $20 billion anchor commitment for the pool before it starts investing, people with knowledge of the plans said.
The firm is planning to start with $5 billion of outside capital and as much as $5 billion from clients with separately managed accounts, said the people, who asked not to be identified because the process is private. That would supplement the commitment of as much as $20 billion that Saudi Arabia’s Public Investment Fund made to the pool in May. The money from PIF will be provided to the fund in stages, matching commitments from outside investors.