Blackstone invests $400m in ESG-focused platform Xpansiv

• The investment will be used by Xpansiv for growth and future acquisitions
• Perella Weinberg Partners LP served as financial advisor to Xpansiv while Morrison & Foerster LLP and Clifford Chance LLP served as legal counsel
• Kirkland & Ellis and Clayton Utz served as legal counsel to Blackstone

Blackstone Energy Partners has invested $400 million in Xpansiv, a platform for global carbon and environmental commodities.

Xpansiv connects buyers and sellers of environmental commodities and provides market data for voluntary carbon offsets, renewable energy credits and low-carbon fuels, each of which are critical elements of global decarbonization.

On the transaction, Bilal Khan, senior managing director at Blackstone, said in a statement: “We believe environmental commodities are a critical new asset class that must scale exponentially to meet climate change mitigation targets pledged by governments, companies, and entire industries. Xpansiv is a leader in this space, and we are delighted to provide the capital and resources to help them further expand their offerings and accelerate their growth.”

Blackstone’s capital will enable Xpansiv to continue driving growth across both organic initiatives and future acquisitions. The transaction continues Blackstone’s recent thematic investments in the energy-transition and climate-solutions spaces, which include Legence and Sphera.

Perella Weinberg Partners LP served as financial advisor to Xpansive while Morrison & Foerster LLP and Clifford Chance LLP served as legal counsel. Kirkland & Ellis and Clayton Utz served as legal counsel to Blackstone.

Blackstone Energy Partners is Blackstone’s energy-focused private equity business.