A key feature of the Pathfinder strategy is its social impact pledge. Inclusive of Fund II’s first close, the platform will have more than $10.5bn of capital 'designated with this charitable tie-in', CEO Michael Arougheti says.
A key aspect of the debut Pathfinder fund is its social impact pledge, with Ares committing to donate at least 10% of the vehicle’s carried interest profits to global health and education charities. Fund II is expected to take a similar approach.
The credit fund and a similarly-focused equity fund are both expected to close in 2023, suggesting Blackstone may soon have as much as $13bn of dedicated capital for near-term energy transition investing.
Rising rates – reinforced this week by the Federal Reserve’s vow to continue battling inflation – are motivating LPs to explore asset classes that provide some measure of refuge. One of the beneficiaries appears to be private debt.