Xpansiv explores funding deal with Blackstone

Nathan Rockliff and Ben Stuart, Xpansiv’s chief strategy officer and chief commercial officer. Picture: Jane Dempster

Private equity firm Blackstone is believed to be in talks over a funding deal with the carbon trading platform Xpansiv after it shelved its $2bn float plans.

Xpansiv was planning to list on the ASX with the hope of a $2bn market valuation, but the volatile conditions have meant that has not been able to become a reality. Making matters particularly challenging for the company was the debut of gold mining analysis firm Chrysos on May 6 where its shares fell more than 36 per cent on the first day.

Xpansiv had been relying on its $590m initial public offering to fund the acquisition of the remaining interest in APX that it does not already own.

In March Xpansiv agreed to buy the US-based energy and environmental markets registry infrastructure business for at least $US300m ($418m) in a deal where it initially would secure 20 per cent before acquiring the rest later this year.

Now it is understood Xpansiv is in talks with Blackstone about financing the business.