Blackstone Group is set to close more than US$12 billion commitment for its debut infrastructure fund, Blackstone Infrastructure Partners Fund. 

The Fund has attracted several investments from the Kingdom of Saudi Arabia. It is expected that the fund will reach US$40 billion over the long term. Half of that total would come from the Public Investment Fund of Saudi Arabia (PIF).

Once closed, the fund will be unavailable to new investors until a certain amount of money is deployed, at which time it will be reopened.