Blackstone, Apollo Capitalize on America's Surging Demand for Electricity
Welcome to Going Private, Bloomberg's twice-weekly newsletter about private markets and the forces moving capital away from the public eye. Today, we take a look at how surging electricity consumption in the US is a boon for alternative investment firms, and how some firms are breathing new life into old private equity assets. And finally, the CEO of Morningstar shares his plan for getting ahead of the big three credit rating agencies. If you're not already on our list, sign up here. Have feedback? Email us at goingprivate@bloomberg.net — Erin Fuchs
Americans' electricity needs have soared, spurred in part by the growth of the power-hungry data centers that are necessary for technologies such as 5G networks and artificial intelligence. Though US electricity demand had flattened in the mid-2000s and early 2020s, it reached an all-time high last year, according to the US Energy Information Administration.
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