Blackstone Makes $400M Investment In Environmental Commodities Exchange Xpansiv

Blackstone Inc BX commits to invest $400 million in Xpansiv Limited, the market-infrastructure platform for global carbon and environmental commodities.
Xpansiv helps investors to trade in sustainable assets, including carbon offsets and renewable-energy credits, WSJ reported.
It also lets investors swap offsets linked to green projects such as preserving trees, credits companies receive for buying clean power, and oil and gas contracts accounting for the carbon footprint.
Blackstone's capital will enable Xpansiv's growth across organic initiatives and future acquisitions.
The investment will be facilitated through funds managed by Blackstone's energy-focused private-equity business, Blackstone Energy Partners.
"We believe environmental commodities are a critical new asset class that must scale exponentially to meet climate change mitigation targets pledged by governments, companies, and entire industries," Bilal Khan, Senior Managing Director at Blackstone.
Price Action: BX shares are trading higher by 0.92% at $94.83 in premarket on the last check Thursday.
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