Funds managed by Blackstone (NYSE: BX) and Black Rhino have confirmed that His Highness Emir Muhammad Sanusi II will join Black Rhino’s board of directors as chairman. Black Rhino was formed in January 2012 to develop and invest in transformational infrastructure projects in Sub-Saharan Africa’s power generation and fuel transportation sectors.
Sanusi was named Emir of Kano in June 2014, the second-highest Muslim authority in Nigeria. Prior to his appointment, Sanusi had a distinguished 25-year career in banking. He began his career in 1985 at ICON Merchant Bankers, a subsidiary of Morgan Guaranty Trust and Baring Brothers, and later ran the credit and risk management division at the United Bank for Africa. In 2005, Sanusi moved to First Bank, where he was named managing director in 2009. In June 2009, in the midst of the global financial crisis, Sanusi was appointed governor of the Nigerian Central Bank.
Black Rhino was founded to address the critical need for infrastructure and energy development across the African continent. It seeks to capitalize on the major opportunity to invest in projects in the energy security sector, including power generation, transmission, fuel storage, and pipelines.
Blackstone Energy Partners is Blackstone's energy-focused private equity business. Blackstone has invested approximately $8 billion of equity globally across a broad range of sectors within the energy industry.