Blackstone Infrastructure has held the final close of its inaugural fundraising phase for Blackstone Infrastructure Partners (BIP).  Together with previously announced commitments, this closing brings total commitments for BIP to US$14 billion.

BIP is a permanent capital vehicle focused on investing across all infrastructure sectors, including transportation, energy (utilities, midstream, and renewables), communications and water and waste. Investors in BIP include a diverse mix of public and private pension plans, sovereign wealth funds, insurance companies, foundations, and family offices.

BIP was formed in 2017 with a US$20 billion long-term matching anchor commitment from the Public Investment Fund of Saudi Arabia.