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Private equity firm Blackstone, Tallgrass invest $105M in Yellowstone National Park

Reported by Codyenterprise
Oct 21, 2026· 2 min read
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Key Takeaways
  • • The National Park Service announced a permanent $105 million Conservation and Stewardship fund for Yellowstone National Park, established through a partnership with Yellowstone Forever and Tallgrass, a Blackstone Infrastructure portfolio company.
  • • Tallgrass is led by President and CEO Crystal Heter, and Blackstone is represented by Sean Klimczak, according to photo captions published by the Cody Enterprise.
  • • The fund was established at the Old Faithful Inn with Interior Secretary Doug Burgum, Wyoming Governor Mark Gordon, and Yellowstone Forever President and CEO Lisa Diekmann in attendance.
Summary
The National Park Service has announced the establishment of a permanent $105 million Conservation and Stewardship fund for Yellowstone National Park, according to the Cody Enterprise. The fund is the product of a partnership between Yellowstone Forever, the park's philanthropic partner, and Tallgrass, which the article identifies as a Blackstone Infrastructure portfolio company.

The fund was formally established at the Old Faithful Inn. Photo captions identify the participants as Crystal Heter, president and CEO of Tallgrass; Wyoming Governor Mark Gordon; Interior Secretary Doug Burgum; Sean Klimczak of Blackstone; and Lisa Diekmann, president and CEO of Yellowstone Forever. The presence of senior federal and state officials alongside the private-sector partners underscores the public profile of the initiative.

The source article is a brief local news report and does not disclose further details on the fund's governance, investment structure, deployment schedule, or the specific conservation and stewardship projects it will support. Readers seeking those specifics should consult the National Park Service or Yellowstone Forever directly.

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Sources

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AlphaMaven summarised this story from the reporting below. Each link opens the original article.

Codyenterprise Private equity firm Blackstone, Tallgrass invest $105M in Yellowstone National Park