Blackstone completes final close of $8.7 billion fund

Blackstone said it had completed a final close of $8.7 billion for Blackstone Energy Transition Partners V. In private markets, a final close is the point at which a fund finishes taking investor commitments and can deploy the capital over time. The Bloomberg Intelligence podcast listing that flagged the raise did not specify the fund’s investment focus, target return, investors, or how much it had already committed, so the announcement offers limited visibility into the overall strategy behind the vehicle.