The investment company that Berkshire Hathway acquired in 2014 was a major shareholder in a new private equity firm that has been trying to cash in on the energy market.
The fund, known as Blackstone Energy, has a portfolio of companies that have invested in the oil and gas sector.
In March, the fund signed a deal to buy shares in the new Blackstone fund, according to Reuters.
The new fund is focused on acquiring shale gas and oil companies, but the company has said it will also invest in infrastructure projects and other projects in Africa.
The company also said it plans to hire hundreds of people and invest $500 million in infrastructure.
In the past, Blackstone has been a big player in the energy sector, with investments in companies like Chevron, ConocoPhillips, BP, and Marathon Oil.
It also owns an oil refinery in Nigeria.
Blackstone says it has more than $100 billion in assets under management, including in oil and natural gas companies.
In March, Blacksmiths stock was up nearly 14 percent, to $27.10.
It is currently trading at $25.99.
Blackstones investment in BlackstoneEnergy is not the only time that the energy industry has been the target of hedge funds and private equity firms.
Last month, hedge fund manager Tom Steyer launched a new fund called the Steyer Institute, which is focusing on a host of topics including climate change, renewable energy, and energy independence.
The group is reportedly aiming to raise $150 million over the next year to fund “expert advice and advocacy” on the topic.