Global private equity firm Blackstone has launched Global Water Development Partners, a new water-focused investment and development platform.
The platform will “support companies with critically-needed capital to create long-term and sustainable water facilities”, the firm said.
Global Water Development Partners will focus on the development of desalination facilities and large scale waste water treatment for industrial customers. It will also identify, develop, and finance large scale independent water development projects around the world.
Blackstone said it will look to partner with “key stakeholders in industry, government, private sector and civil society” to address key water sector issues of access and scarcity.’
Global Water Development Partners will be led by Usha Rao-Monari, former global head of the International Finance Corporation’s Water and Wastewater Group, and Lars Thunell, former chief executive officer of the IFC.
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.”
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