Blackstone Credit & Insurance leads $7B investment in LNG project

[Massive Oil Refinery in Port Arthur, Texas - Aerial]
halbergman/iStock via Getty Images

Blackstone's (NYSE:BX [https://seekingalpha.com/symbol/BX]) credit and insurance unit ("BXCI") is leading a $7B investmen [https://seekingalpha.com/pr/20241014-blackstone-credit-and-insurance-leads-7-billion-investment-in-sempra-infrastructure-partners]t in Sempra Infrastructure Partners' Port Arthur liquefied natural gas Phase 2 project, the company said on Tuesday.

Funds managed by BXCI, along with an investor group, have acquired a 49.9% minority equity interest in the project, while Sempra Infrastructure Partners has kept a 50.1% majority stake.

"The partnership highlights Blackstone’s focus on providing large scale and flexible high-grade capital solutions to the world’s leading corporations," said Rick Campbell, senior managing director, Blackstone Credit & Insurance (NYSE:BX [https://seekingalpha.com/symbol/BX]).

Earlier, Sempra (NYSE:SRE [https://seekingalpha.com/symbol/SRE]) agreed to sell a 45% equity stake [https://seekingalpha.com/news/4497655-sempra-to-sell-45-percent-stake-in-sempra-infrastructure-partners-in-10b-deal]in Sempra Infrastructure Partners to affiliates of KKR (KKR [https://seekingalpha.com/symbol/KKR]) for $10B. It also reached a final investment decision to advance the development, construction, and operation of the Port Arthur LNG Phase 2 project.

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