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Blackstone Infrastructure revises PNM merger terms

PRIVATESep 16, 2026•about 3 hours ago

Acquiring Company

Blackstone Infrastructure

Acquired Company

PNM Resources

City Of RochesterAlbuquerqueEnergyRenewable EnergyEnergyOil And GasRenewable Energy

Description

Blackstone Infrastructure and PNM Resources, Inc. have submitted revised merger terms for regulatory approval, seeking to enhance investments in New Mexico's electric grid. The updated proposal includes $220 million in customer rebates and commitments to local management. This announcement follows challenges to the merger amidst legal scrutiny over previous financial transactions.

Company Information

Company

Blackstone Infrastructure

Location

City Of Rochester, New York, United States

About

Blackstone Infrastructure is an active investor across energy, transportation, digital infrastructure, and water and waste infrastructure sectors. They seek to apply a long-term buy-and-hold strategy to large-scale infrastructure assets, with a focus on delivering stable, long-term capital appreciation together with a predictable annual cash flow yield. Their approach to infrastructure investing is one that focuses on responsible stewardship and stakeholder engagement to create value for their investors and the communities they serve.

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Integration timeline
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Frequently asked

Who acquired PNM Resources?

PNM Resources was acquired by Blackstone Infrastructure, based in City Of Rochester. The deal was reported on September 16, 2026. Blackstone Infrastructure is an active investor across energy, transportation, digital infrastructure, and water and waste infrastructure sectors. Blackstone Infrastructure is privately held and operates in Energy.

When did Blackstone Infrastructure acquire PNM Resources?

Blackstone Infrastructure's acquisition of PNM Resources was reported on September 16, 2026. Blackstone Infrastructure and PNM Resources, Inc. have submitted revised merger terms for regulatory approval, seeking to enhance investments in New Mexico's electric grid. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does PNM Resources do?

PNM Resources is a regulated utility that provides electricity to customers in New Mexico and Texas. The company focuses on delivering reliable and safe electric service while supporting sustainable energy initiatives and investing in infrastructure upgrades. It is privately held, operating in Energy, and is based in Albuquerque.

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