Blackstone to invest up to $800m in Tamarind Energy

The transaction represents Blackstone's first investment in oil and gas in Southeast Asia. Kuala Lumpur- headquartered Tamarind focuses on increasing yeilds and reserves from producing oil and gas fields where yields are in decline.

The company's board comprises of senior executives with experience across a range of basins in Southeast Asia. The firm will seek partnerships with the government firms that currently dominate the energy industry in Southeast Asian in order to help them increase output as energy demands increase in the region.

"Our partnership with Tamarind is another example of our growing global energy practice and the track record we have of identifying and backing best in class managers to build world scale energy businesses," said David Foley, senior managing director with Blackstone and CEO of BEP. "This investment further underlines our strong support and commitment to South East Asia following Blackstone's Singapore office opening late last year."

Blackstone has around $300 billion in assets under management worldwide across private equity, real estate, real asset, credit, public debt and secondaries. Around $7 billion is made up of equity investments across a broad range of sectors within the energy industry, globally. Significant recent deals include a $1.2 billion investment to expand the operations of LLOG Exploration in the Gulf of Mexico in November last year.

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• Topics
• Industrials
• Southeast Asia
• The Blackstone Group
• Southeast Asia
• Commodities