Google News New York City asset manager Blackstone to invest $3bn in Invenergy Renewables
by SOURAV D | VIEW 1030
On Friday, Blackstone Inc., the New York City-headquartered world’s largest alternative asset manager having had more than a jawdropping $731 billion worth of assets under its management as of Q3, 2021, had issued a statement on Friday saying that the American asset manager would lay off an eye-popping $3 billion in Invenergy Renewables Holdings LLC which happens to be the largest privately-owned renewable energy company in North America, marking off Blackstone’s largest-ever investment on a renewable energy company as investors had started off questioning the company’s approach towards an incisive impact of climate change on environment and workers. In point of fact, latest move from Blackstone to hand out as many as $3 billion to Invenergy Renewables came forth amid intense pressure from its investors to muscle up the company’s sustainability credentials as beforementioned, while Blackstone added in a statement that its latest shot in the arm in form of fresh capitals for Invenergy would help accelerate the renewable company’s development activities.
Blackstone lays off $3 billion on Invenergy Renewables
Apart from that, despite Blackstone’s latest investment on privately owned Invenergy Renewables, a Canadian pension fund Caisse de depot et placement du Quebec (CDPQ) alongside Invenergy Management remained the majority stakeholders of the company, while Invenergy would continue to act as a manging member of the entity, too.
Concomitantly, Blackstone Inc., the American alternative investment management company which was converted from a publicly traded partnership to a C-Type Corporation back in the 2019s, also had added in the statement that its latest investment on Invenergy Renewables was financed and managed by Blackstone Infrastructure Partners.
Nevertheless, a C-Type corporation holds a legal structure in which the owners and stakeholders remain subjects to separate federal taxations.