Blackstone Energy Partners launches global water financing platform

Blackstone Energy Partners has established a new water investment and development platform, Global Water Development Partners.

The platform will support companies with critically needed capital to create long-term and sustainable water facilities focused on the development of desalination facilities and large-scale wastewater treatment for industrial customers, and to identify, develop, finance, construct and operate large-scale independent water development projects globally.

Blackstone Energy Partners partnered with former executives of International Finance Corp. (IFC), the financing arm of the World Bank, to form Global Water Development Partners. The team will be led by Usha Rao-Monari, former Global Head of the IFC’s Water and Wastewater Group, and Lars Thunell, former CEO of the IFC.

Blackstone senior managing director Sean Klimczak said: "We are excited to partner with such an experienced management team to identify and develop water projects around the world. With Usha and Lars’ leadership, we hope to build a best-in-class platform that will create value for investors."

Rao-Monari said: "We look forward to partnering with Blackstone in this forward-thinking venture. Blackstone’s investment and greenfield development experience, capital resources, knowledge and relationships will support our team as we pursue and identify opportunities in the space."