Blackstone is helping build the Black Rhino team, and also announced today the hiring of Mimi Alemayehou.Mimi Alemayehou, who previously served as the Executive Vice President at the Overseas Private Investment Corporation (OPIC), will join Black Rhino as Managing Director and member of the Executive Committee. In addition, Alemayehou will serve as an Executive Advisor and Chair of Blackstone Africa Infrastructure. During Alemayehou’s tenure from 2010 to 2014, OPIC’s portfolio grew by more than 24% to $18 billion. Her leadership at OPIC was key in tripling its Africa portfolio to nearly $4 billion. Previously, Alemayehou served as the United States Executive Director on the board of the African Development Bank (AfDB). As the senior Treasury official in Africa, Alemayehou represented the U.S. on Treasury and development issues and was instrumental in pushing the AfDB to increase its lending to the private sector in support of infrastructure projects. Alemayehou will join Herlihy and the existing Black Rhino team, led by Managing Directors, Daniel O’Shea and Greg Meneses. O’Shea and Meneses contribute significant experience in the energy and infrastructure sectors, including thermal power generation, renewable power generation, infrastructure, rail and telecommunications globally and across the African continent. Black Rhino’s active project development pipeline includes projects in Djibouti, Ethiopia, Nigeria, and South Africa. Both Blackstone and Black Rhino have a successful track record of working collaboratively with local stakeholders to develop projects in a socially responsible way that creates long-term value for local communities and regional economies. “Black Rhino’s development approach has been built around establishing relationships with African partners who share our long-term commitment to safe, sustainable, and socially responsible investments,” said Herlihy. “We look forward to partnering with governments, civil society, and other stakeholders to create mutual value in each community where we invest in the coming years.” Through its portfolio company Sithe Global, Blackstone is a lead investor alongside the Aga Khan Fund for Economic Development in the 250 MW Bujagali Hydropower Plant in Jinja, Uganda on the Nile River. The facility has reduced the cost of power for Uganda’s national utility by two thirds, nearly doubled the country’s generation capacity with clean, affordable, renewable energy, making the country’s electricity supply one of the cleanest in the world, and helped increase Uganda’s GDP growth rate by 60%. Blackstone is also a founding investor in Kosmos, an oil and gas exploration company. Kosmos has worked closely with the Government of Ghana and the Ghana National Petroleum Company to develop the deep-water Jubilee oil field, one of West Africa’s largest discoveries in the last decade.
About BlackstoneBlackstone Energy Partners is Blackstone's energy-focused private equity business, with a successful record built on Blackstone's industry expertise and partnerships with exceptional management teams. Blackstone has invested approximately $7 billion of equity globally across a broad range of sectors within the energy industry. Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with almost $300 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone. About Black Rhino Black Rhino was founded to address the critical need for infrastructure and energy development across the African continent. Black Rhino seeks to capitalize on the major opportunity to invest in projects in the energy security sector, including power generation, transmission, fuel storage and pipelines. Black Rhino has developed a comprehensive understanding of the African continent, including the necessity to establish strong partnerships with leading African entities that complement its expertise. Black Rhino’s management team has collectively been involved in the development of over US$35 billion of infrastructure, communication and power generation projects across the globe and has over one hundred thirty-five years of combined African experience. The team has been responsible for numerous projects from the concept stage through the full financing, construction, operation and ultimately the exit stage and prides itself on setting standards for developing transformational projects that aim for the greatest level of local population participation and adherence to strict environmental and safety standards.