Sydney, July 18, 2024 – Blackstone (NYSE:BX) announced today that funds managed by Blackstone Tactical Opportunities (“Blackstone”) have made a minority investment into Symphony Infrastructure Partners (“Symphony”), Australia’s leading energy transition infrastructure services platform.
Symphony was founded in 2022 by Steve Butler with a mission to accelerate Australia’s energy transition to renewables. The company develops, operates, and owns specialized services critical to Australia’s energy transition. Blackstone’s investment provides capital for Symphony to complete multiple pending acquisitions that will bring industry-leading capabilities into the platform and also involves a commitment of funding towards the future growth of the company.
Steve Butler, Chief Executive Officer, Symphony, said: “We are thrilled to partner with Blackstone, the world’s largest alternative asset manager, and join its global network of high-quality companies around the world. Blackstone brings incredible scale and access to capital, and we share the vision of growing the business and spearheading Australia’s energy transition.”
Michael Blickstead, Head of Australia & New Zealand Private Equity, Blackstone, said: “We are pleased to partner with the management team to take Symphony on its next chapter of growth and contribute to Australia’s energy transition. Our success in Australia and around the world has been based on two factors: partnering and having close alignment with visionary founders and building businesses through our scale and expertise. We bring this same commitment to Symphony, where we will provide our full breadth of resources and capabilities to support the company’s long-term success.”
Daniel Kearns, Managing Director in Blackstone Tactical Opportunities, said: “At Blackstone, the energy transition is a major investment theme both globally and in Australia, where we’ve made marquee investments in companies with innovative solutions that address the world’s transition into renewable energy. Australia is still in the early stages of its energy transition journey, and we couldn’t be more excited to partner with a market-leading platform in Symphony and provide the capital and resources to fuel its continued growth.”
Blackstone is a committed investor in Australia, bringing a track record of providing flexible partnership capital for founders, building businesses into market leaders, and delivering for stakeholders. It has made a number of investments in Australia-based companies supporting the energy transition including Xpansiv, a premier infrastructure platform for global carbon and environmental commodities, and Energy Exemplar, a leading global provider of energy market simulation software.
About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram
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