Blackstone’s Infrastructure Fund for Individuals Raises More Than $1 Billion
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Blackstone’s Infrastructure Fund for Individuals Raises More Than $1 Billion

Live Mint  

-- Blackstone Inc. is betting individuals will turn the firm into a bigger force in roads, ports and data centers. The alternative asset manager gathered more than $1 billion for a new infrastructure fund for wealthy individuals, one of the largest initial hauls for such a vehicle. Greg Blank, who leads digital infrastructure at Blackstone, is chief executive officer of its new infrastructure fund, known as BXINFRA. Infrastructure — a sprawling category that includes bridges, railroads and data centers — can imbue investors with a sense of ownership in the economy that more esoteric financial strategies don’t. Blackstone has structured its fund so that investors can withdraw as much as 3% of the fund’s net asset value each quarter.

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