Private equity firm Blackstone Group announced that it is establishing a new business group to focus on investments in the cleantech energy sector.

The new group, which will also provide advice on renewable energy strategies across Blackstone’s asset base, is being led by James 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 L.P where he created and managed a research team focused on emerging sciences and technologies. Two others are also joining Blackstone from AllianceBernstein as principals.

“This team’s experience and record of investment success will position us as a leading investor in the cleantech space and will provide a valuable resource for our other business groups advising on the introduction of sustainable energy strategies,” said Tony James, president and COO of Blackstone.