Blackstone Energy Partners pairs with veteran management team for Global Water Development Partners
Blackstone Energy Partners has collaborated with a seasoned management team to launch a water investment and development platform called Global Water Development Partners, a statement about the matter said.
The energy-focused private equity arm of Blackstone paired with Usha Rao-Monari who will lead the team as Chief Executive Officer and Lars Thunell who will be the Chairman of Global Water Development Partners. Rao-Monari formerly served as the Global Head of the Water and Wasterwater Group of the International Finance Corporation or IFC while Thunell was the former Chief Executive Officer of IFC, the statement.
Blackstone Senior Managing Director Seam Klimczak said in the statement, "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."
Funds managed by Blackstone on behalf of its investors will own Global Water Development Partners. It will back firms with that much-needed capital for the establishment of water facilities, particularly those that would develop desalination plants and large scale waste water treatment for industrial clients. The company will also identify, develop, build and operate huge independent water development projects around the world, the statement said.
The water investment and development platform will help find solutions to basic issues related to water access and shortage by linking with stakeholders in the industry, government, private sector and civil society. In order to determine where the worldwide opportunities are, Global Water Development Partners will capitalize on the investing experience and infrastructure development expertise of Blackstone as well as the sectoral knowledge of its management team, the statement said.
Thunell said in the statement, "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."