Blackstone Group, the world’s largest private-equity firm, has pulled back on a plan to invest billions of dollars across Africa, the latest U.S. investor to temper its ambitions on the continent. The New York-based firm agreed about a year ago to sell Black Rhino Group, a developer of energy infrastructure projects that was meant to be Blackstone’s main vehicle for investing in Africa, back to its management team for an undisclosed amount, a Blackstone spokeswoman said. The sale, which has yet to close, hasn’t been previously...

Source: Wall Street Journal February 05, 2019 12:55 UTC