Blackstone Infrastructure Partners Acquires Minority Interest in NiSource Affiliate GenCo in $1.5 Billion Deal

Paul, Weiss advised Blackstone Infrastructure Partners in its $1.5 billion equity commitment and accompanying acquisition of a 19.9% ownership interest in NiSource Inc.-affiliated entity GenCo. GenCo is designed to own, build and manage generation assets to serve the growing data center industry in Northern Indiana. The GenCo investment compliments Blackstone’s 2023 acquisition of Northern Indiana Public Service Company LLC (NIPSCO), Indiana’s largest vertically integrated electric and gas distribution company, providing critical utility service to almost 1.3 million customers.

The Paul, Weiss team was led by corporate partners Ravi Purohit and Michael Spirtos.