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Blackstone Invests $800 Million in Asian Oil-Based Energy Company

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Published on : Jul 31, 2014

Blackstone Energy Partners announced to invest $800 million in an Asian based energy company that is led by former industry executives. 

Blackstone is popularly considered a part of the world’s largest administrator of alternatives to financial stocks and bonds. New York-based managing director, Angelo Acconcia of Blackstone Energy Partners said in an interview that Tamarind Energy will contribute some degree of help to its partners in order to increase the production of oil and gas fields in Malaysia, as well as Indonesia. The Talisman Energy Inc. – a Kuala Lumpur-based company is led by former executives. Acconcia said that Blackstone intends to be a value-added partner to different companies and focus on the appraisal growth of company assets which are in the process of discovery. The company owns total control over this new venture and is providing almost a 100 percent of funding for Tamarind. 

Tamarind Energy is Blackstone Group’s first oil and gas investment in Asia which is worth $2.5 billion energy fund. According to the International Energy Agency, China is currently leading in the emerging economies, and with this rise the global oil demand is bound to grow at a rapid pace in the next five years in 2015. 

Acconcia said Blackstone has allocated approximately $5 billion to energy domain and has also devoted $2.5 billion on energy investments. In addition, Blackstone Capital Partners VI has $16.7 billion on diversified private equity fund. Thus, in total, the Blackstone Group has an investment more than $7 billion of equity with 25 energy transactions. 
Tamarind CEO, Ian Angell and executive vice-president Lawrence Bernstein were the first executives at Talisman. 

Acconcia informed that Blackstone Energy fund is in the process of making an oilfield service investment and a power plant in the Philippines. The company has invested in a few power plants in India too.

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