Blackstone Energy Partners has made a capital commitment of up to $800 million in Tamarind Energy, a new E&P company. Tamarind will focus on growing production and reserves from producing oil & gas fields, developing discoveries and capturing exploration potential in and around proven plays to build a high-quality portfolio. The funds were committed with an emphasis on building long-term, strategic relationships with host governments, South East Asian national oil companies and key regional stakeholders. Blackstone has also partnered with Black Rhino, an African infrastructure development company, to focus on large-scale infrastructure projects across Sub-Saharan Africa, especially in the energy sector.
What's different about Tamarind Energy is, unlike those companies listed above, it targets oil & gas assets. Over the last two years, the majority of PE deals in emerging markets have involved renewable energy or electric power companies. The trend could be a move to diversify portfolios with alternative energy investments; perhaps PE firms are betting on long-term, renewable power in developing nations from the start as they build out energy infrastructure.