Blackstone Group started a new clean-technology energy group to capitalize on the growth of the sector and to help the private equity firm with renewable energy strategies, confirmed spokesman John Ford.James D. Kiggen, senior managing director of Blackstones corporate private equity group, will lead the new clean-tech group, and Walter C. Vester and Richard L. Troyer were both named principals.
The three worked in the emerging sciences and technologies group at AllianceBernstein. Mr. Kiggen managed AllianceBernsteins early stage growth/venture capital unit that invested in clean-tech companies. Messrs. Vester and Troyer were principals, Mr. Ford said.
Amy Raskin will replace Mr. Kiggen and manage the early stage growth/venture capital unit. She will continue to oversee the firms research on strategic change group, said John Meyers, AllianceBernstein spokesman. Information on Messrs. Vester and Troyers replacements could not be ascertained by deadline.