Blackstone eyeing power generation and distribution opportunities in Africa: Stephen Schwarzman, Chairman and CEO, The Blackstone Group

Stephen A. Schwarzman, Chairman and CEO, The Blackstone Group

Private equity will play a key role in developing Africa given the massive needs for capital on the continent, says Blackstone Group, which is focusing on infrastructure projects involving power generation and transmission.

CEO Steve Schwarzman said he would continue to seek partners like Aliko Dangote — Africa’s richest man, with whom Blackstone has a $5 billion joint venture — to ensure that Blackstone’s experience and deep pockets are matched by local nous and relationships.

The global private equity and advisory firm has projects in Nigeria, Ethiopia, Mozambique and Togo. It is working with Black Rhino, an African infrastructure company, alongside Dangote to identify, develop and operate large-scale investments.

Read more: Blackstone eyes opportunities in African power shortages | Reuters.