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Blackstone is said to raise $4.5 bn for energy fund

William Alden 

The Blackstone Group has finished raising $4.5 billion for a new fund dedicated to investments in the energy sector, as the private equity giant seeks to profit on the rout in oil prices, a person with knowledge of the matter said on Friday. The fund, which began soliciting capital last year, exceeded a $4-billion target and hit its "hard cap" for assets raised, reflecting robust demand from investors, said the person, who spoke on the condition of anonymity. The fund is expected to hold its official closing in the coming days. The Blackstone vehicle is among several efforts ...

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First Published: Sat, January 24 2015. 20:57 IST