The $US400 million investment by the giant US-based investor in Xpansiv has supplanted a mooted initial public offer.
Giant US investor Blackstone will invest $US400 million in carbon trading platform Xpansiv, which turned to private equity after the downturn in equity markets
“We were receiving interest from multiple private equity firms and when the market started deteriorating and it didn’t look like we were going to get the best outcome for our shareholders the board decided to pursue these other private equity interests,” Mr Stuart said of the origins of the Blackstone deal.Blackstone senior managing director Bilal Khan said the investment would provide capital and resources to help Xpansiv further expand its product range and accelerate its growth.
Mr Stuart said Blackstone’s diverse portfolio of companies opened up potential new avenues for Xpansiv products, while it could also consider other strategic acquisitions without having to seek fresh capital.
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