Blackstone's New Venture Will Invest in Water Infrastructure

27 Mar 2014 by Local Press Report

Blackstone Group L.P. will later Thursday unveil a new venture that will invest in big water infrastructure projects, as the asset manager looks to benefit from emerging markets' need for funding to meet their growing clean water needs. Blackstone has partnered with two former executives of International Finance Corp., the financing arm of the World Bank, to form Global Water Development Partners. Blackstone is looking to invest hundreds of millions of dollars to build facilities that would convert salt water into fresh water and treat wastewater for industrial users in Africa, Asia and Latin America, said Sean Klimczak, a senior managing director at Blackstone...

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