Blackstone Inc. raised $7.1 billion for a fund to finance solar companies, electric car parts makers and technology to cut carbon emissions.
The Blackstone Green Private Credit Fund III surpassed its $6 billion goal. This marks the firm’s biggest stockpile for a bet that the economy will rely less on oil and gas — and that companies behind the shift to lower-carbon sources will need financing.
Blackstone’s clean-energy arsenal also broadcasts its ambitions to build up its lending business as banks retreat under new regulations.
