March 4, 2020
Blackstone Energy Partners In Big Bid For Battery Storage
Article from Investable Universe
On Wednesday, Blackstone Energy Partners—the energy-focused private equity arm of alternative assets giant Blackstone Group—announced the acquisition of NRStor C&I L.P., a distributed energy resource platform and former subsidiary of NRStor, the Toronto-based developer of clean energy battery storage solutions.
The sellers were Fengate Asset Management, a specialized Canadian real assets alternative investment firm that focuses on private equity, infrastructure and real estate, managing on behalf of the multi-employer LiUNA Pension Fund of Central and Eastern Canada. along with venture capital investor Lake Bridge Capital.
Price and terms of the deal were not announced. The new acquisition will add to a $16 billion existing equity portfolio for Blackstone Energy Partners across multiple industry sub-sectors.