NEW YORK, April 29 (Reuters) - Blackstone is

exploring a $3 billion sale of Sphera, a sustainability software

and consulting services provider, according to three people

familiar with the matter.

The private equity firm has hired investment bankers at

William Blair and Evercore to run the sale, which is in its

early stages, said the people who requested anonymity speaking

about confidential matters.

Blackstone declined to comment. Evercore, William Blair, and

Sphera did not immediately respond to Reuters' request for

comments.

Chicago, Illinois-based Sphera, provides risk management

software as well as data and consulting services to corporations

to help them stay compliant with environmental, health, safety

and sustainability guidelines and other related matters.

The company has served more than 8,400 customers globally

across 95 countries, according to Sphera's website. Some of its

global customers include Danone, Siemens, Mercedes-Benz,

Wrangler, and others.

Sphera generates over $300 million in annual revenue and

more than $100 million in earnings before interest, taxes,

depreciation, and amortization (EBITDA), the sources said. The

company is expected to fetch close to $3 billion in a potential

sale, the people added.

Blackstone planned to shed twice as many portfolio holdings

in 2025, compared to last year. However, dealmaking has cooled

since the Trump administration sparked a global trade war in

early April.

Despite the slowdown in M&A, private equity firms are facing

pressure to return capital to their limited partners (LPs),

leading to process launches of private equity's most resilient

assets.