Aug
17
Blackstone to Add $10 Billion in Assets With Harvest Deal
By-
Biggest private equity manager bets on energy infrastructure
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Deal follows firm’s credit, secondary additions in past decade
Blackstone Group LP will add $10 billion in assets by buying energy investor Harvest Fund Advisors, betting that demand for pipelines and facilities will continue to rise despite sluggish energy prices.
Blackstone is acquiring the Wayne, Pennsylvania-based firm for an undisclosed amount of cash and future incentive payouts, Blackstone partner Dwight Scott said in a phone interview Thursday. Harvest’s 18-person team will remain at their headquarters and continue to be led by Eric Conklin, who will report through Blackstone’s credit unit…
Blackstone to Add $10 Billion in Assets With Harvest Deal
