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South Dakota buys $35 million stake in Blackstone energy fund on secondary market

Blackstone Group LP

South Dakota Investment Council, Pierre, acquired a $35 million commitment to Blackstone Energy Partners II, an energy fund managed by Blackstone Group, said Tammy V. Otten, assistant investment officer, in an email.

The council purchased the commitment on the secondary market from an undisclosed seller. The council had originally committed $50 million to the fund in 2014; Blackstone Energy Partners II closed at $4.5 billion in 2015.

The South Dakota Investment Council oversees investment management of the $10.5 billion South Dakota Retirement System, $508 million Education Enhancement Trust Fund, $295 million Dakota Cement Trust Fund, $260 million School & Public Lands Fund and $133 million Health Care Trust Fund.