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The Blackstone Group, an investment and advisory group based in New York, has established a new business group that will be focused on investments in the clean-tech energy sector and will also provide advice on renewable energy strategies across the firm's asset base. 

The team is being led by James D. Kiggen, who has joined the firm's corporate private equity group as a senior managing director. Prior to joining Blackstone, Kiggen was a senior vice president at AllianceBernstein LP, where he created and managed a research team focused on emerging sciences and technologies.

Also joining as principals from AllianceBernstein, are Walter C. Vester and Richard L. Troyer. Vester has seven years' operating experience with communication and energy technology companies, and was a project leader at the Boston Consulting Group. Troyer was a sell-side research analyst in biotechnology at Credit Suisse First Boston and Piper Jaffray, and a consultant at Marakon Associates. 

"This team's experience and record of investment success will position us as a leading investor in the clean-tech space and will provide a valuable resource for our other business groups advising on the introduction of sustainable energy strategies," says Tony James, president and chief operating officer of the Blackstone Group.

SOURCE: Blackstone Group

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