Blackstone Energy Partners, Blackstone's (NYSE: BX) energy-focused
private equity business, today announced a partnership with a highly
experienced management team to create Global Water Development Partners,
a new water-investment and development platform. The team will be led by
Usha Rao-Monari, former Global Head of the International Finance
Corporation’s (IFC) Water and Wastewater Group, and Lars Thunell, former
Chief Executive Officer of the IFC.
Global Water Development Partners, a company owned by funds managed by
Blackstone on behalf of its investors, will support companies with
critically-needed capital to create long-term and sustainable water
facilities focused on the development of desalination facilities and
large scale waste water treatment for industrial customers, and to
identify, develop, finance, construct and operate large scale
independent water development projects globally. Global Water
Development Partners will partner with the key stakeholders in industry,
government, private sector and civil society to find solutions to the
key water sector issues of access and scarcity. Global Water Development
Partners will leverage Blackstone’s expertise as an active investor and
developer of infrastructure projects and its own management team’s
extensive knowledge in this sector to identify opportunities globally.
Sean Klimczak, Senior Managing Director at Blackstone said, “We are
excited to partner with such an experienced management team to identify
and develop water projects around the world. With Usha’s and Lars’s
leadership, we hope to build a best-in-class platform that will create
value for investors.”
Usha Rao-Monari, CEO of Global Water Development Partners, 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.”
Lars Thunell, Chairman of Global Water Development Partners, said, “I am
thrilled to be able to partner with Blackstone on this venture.
Blackstone’s team truly understands the impact that private capital can
have in infrastructure development both for the countries in which it
operates and for its investors.”
Usha Rao-Monari most recently served as Director of the IFC’s
Sustainable Business Advisory Group. In her role as Global Head of the
IFC’s Water and Wastewater Group, she was responsible for creating the
organization’s water investment strategy and positioned it as a thought
leader in global water scarcity issues. Ms. Rao-Monari was instrumental
in founding and establishing the 2030 Water Resources Group, a
public-private partnership platform, which works with national
governments to facilitate investments in the water sector.
Lars Thunell is a seasoned chief executive with over 30 years of
management experience, most recently as the Chief Executive Officer and
Executive Vice President of the International Finance Corporation, the
financing arm of the World Bank. Under Mr. Thunell’s leadership, the
International Finance Corporation tripled its annual financing of
infrastructure, healthcare and energy projects around the world from $6
billion to over $20 billion, the majority of which are in emerging
markets.
About Blackstone
Blackstone is one of the world’s leading investment and advisory firms.
We seek to create positive economic impact and long-term value for our
investors, the companies we invest in, the companies we advise and the
broader global economy. We do this through the commitment of our
extraordinary people and flexible capital. Our asset management
businesses include investment vehicles focused on private equity, real
estate, hedge fund solutions, non-investment grade credit, secondary
funds, and multi asset class exposures falling outside of other funds’
mandates. Blackstone also provides various financial advisory services,
including financial and strategic advisory, restructuring and
reorganization advisory and fund placement services. Further information
is available at www.blackstone.com.
Follow Blackstone on Twitter @Blackstone.
Copyright Business Wire 2014