Blackstone targets US$100b in infrastructure investments

New York

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

PIF agreed to commit US$20 billion to the pool, and Blackstone plans to raise the same amount from other investors, the New York-based asset manager said Saturday. With leverage, Blackstone expects to have more than US$100 billion in purchasing power for infrastructure projects, primarily in the US.