On August 7th, The Blackstone Group, a leading investment and advisory firm, announced the creation of a new business group that will focus on investments in the cleantech energy sector and provide advice on renewable energy strategies across Blackstone's asset base. This new cleantech energy group will be led by James D. Kiggen, who has joined Blackstone's Corporate Private Equity group as a Senior Managing Director. Principals Walter C. Vester and Richard L. Troyer will also be serving on this team.
Tony James, President and Chief Operating Officer of The Blackstone Group, said, "This team's experience and record of investment success will position us as a leading investor in the cleantech space and will provide a valuable resource for our other business groups advising on the introduction of sustainable energy strategies. Jamie, Walt and Rich are a great team and we are excited to welcome them to our platform."
Garrett Moran, Senior Managing Director of The Blackstone Group, added: "Jamie and his team’s understanding of rapidly evolving technology applications in solar and wind power generation, carbon sequestration, next generation ethanol, and other renewables will be a key input in Blackstone’s investment decisions. We look forward to working with the new team across both conventional energy investments and new developments, including those at our portfolio company Sithe Global Power, as well as several other sizeable investments that we are currently evaluating."
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