Assets Under Management
Total Enterprise Value of Our Portfolio Companies*
WHAT WE DO
We are an active investor across sectors, including energy transition infrastructure, transportation, digital infrastructure and water and waste.
We seek to apply a long-term buy-and-hold strategy to large-scale infrastructure assets with a focus on delivering stable, long-term capital appreciation together with a predictable annual cash flow yield.
We seek to drive value enhancement through a disciplined, operationally focused mindset, greater accountability and transparency, and direct engagement throughout the diligence and asset management process.
We focus on responsible stewardship and stakeholder engagement to create value not just for our investors but also for the communities we serve.
Applegreen is a leading international motorway service area operator with market-leading positions in Ireland, the UK, and the US.1 We partnered with Applegreen, alongside its two founders, with the goal of investing behind Applegreen’s geographic and electric vehicle charging expansion. The company has a commitment to sustainability and has installed hundreds of electric vehicle charging stations to date, with plans to add many more.
Invenergy Renewables is the largest private renewables developer in the United States.2 In 2022, Blackstone announced a $3B investment in the company to support the expansion of Invenergy’s clean energy platform. Invenergy has over 100 projects in development globally and $100B+3 of potential capex in its development pipeline, and works to sustain long-term partnerships with utilities, financial institutions, and commercial and industrial customers. This investment, the largest equity investment in US renewables to date, reflects our conviction in investing in the global energy transition.
ASPI is the largest toll road network in Europe by traffic volume with a network spanning over 3,000 kilometers (covering 40% of the Italian highway system4). We believe that ASPI is positioned to benefit from continued post-COVID traffic growth given its concentration in Northern Italy, one of Europe’s most prosperous areas. We partnered with CDP and Macquarie in the acquisition of ASPI and plan to invest significantly over the course of our ownership to improve ASPI’s toll road network.
Carrix is the largest marine terminal operator in North America5 and plays a critical role in the global supply chain. As international commerce grows, we believe Carrix’s gateway trade lanes will benefit. We are excited to continue partnering with the company’s leadership team to invest behind future growth.
Phoenix Tower International
Phoenix Tower International (PTI) is a leading private cell tower platform that operates over 22,000 cell towers across the Americas and Europe. Funds managed by Blackstone Infrastructure Partners acquired a stake in PTI in 2021 to help expand and to strengthen its platform in Europe and the Americas. Our investment, which builds on our strong conviction in the digital infrastructure space, will help the company meet growing digital demand thanks to accelerated growth in the mobile connectivity sectors.
Blackstone’s investment in QTS represents a highly scalable global data center platform. Data proliferation is one of Blackstone’s highest-conviction investment themes, and QTS is a direct beneficiary of the growth in data storage and consumption globally. QTS is a leader in sustainability and ESG, ranked #1 among global data center operators by GRESB in 2021,6 and the company expects to transition towards utilizing nearly 100% renewable energy sources by 2025.
Note: All figures as of December 31, 2023, unless otherwise indicated.
*Reflects aggregate Total Enterprise Value (“TEV”) at acquisition of the companies in which Blackstone Infrastructure (including co-invest) owns 20% or more of the equity as of December 31, 2023.
- Based on number of sites.
- Source: Orennia as of September 2022.
- As of September 2022. Based on company information and Blackstone estimates.
- As of January 2022.
- Source: Drewry Annual Report 2020/21.
- QTS did not participate in GRESB asset assessments for 2022.
“Infrastructure is one of Blackstone’s most active investment areas. We have a long history of investing in projects that improve quality of life for local communities.”SEAN KLIMCZAK
GLOBAL HEAD OF INFRASTRUCTURE