Blackstone Inks $650 Million Private Credit Deal for Saber Power

Blackstone Inc.’s credit and insurance arm provided a $650 million private debt package to Greenbelt Capital Partners-owned Saber Power, which provides end-to-end energy and electrical services, according to a person with knowledge of the matter.

The refinancing returned capital to Greenbelt investors and included a portability feature, which gives the private equity firm flexibility if it chooses to sell the business down the line, said the person, who asked not to be identified discussing private information. Blackstone served as the sole lender on the transaction.

Representatives for Blackstone and Greenbelt declined to comment.

Blackstone is among firms looking ...