Blackstone unveils $100-billion ambition for infrastructure

Infrastructure investing gained renewed attention as Trump administration vows to direct more money

Blackstone Group, the world’s biggest private equity manager, is eyeing more than $100 billion in infrastructure investments with a new strategy anchored by Saudi Arabia’s Public Investment Fund.

PIF agreed to commit $20 billion to the pool, and Blackstone plans to raise the same amount from other investors, the New York-based asset manager said in a statement on Saturday. With leverage, Blackstone expects to have more than $100 billion in purchasing power for infrastructure projects, primarily in the US. The agreement between Blackstone and PIF is a non-binding memorandum of understanding, and the organisations are continuing to negotiate terms, they said.

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