BlackRock Real Assets closes $4 8 billion green energy fund impactalpha.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from impactalpha.com Daily Mail and Mail on Sunday newspapers.
BlackRock hits final close of third global renewable power fund at $4.8b
A man walks next to a BlackRock sign pictured in the Manhattan borough of New York, October 11, 2015. REUTERS/Eduardo Munoz
April 8, 2021
Global investment manager BlackRock’s arm, BlackRock Real Assets, has hit the final close of its latest global renewable power fund at $4.8 billion, making it the largest independent climate infrastructure fund globally.
Global Renewable Power Fund (GRP) III, which invests in renewable power generation across Americas, Europe, and Asia, attracted commitments from over 100 institutional investors from over 18 countries, the firm said.
The fund is the third vintage of BlackRock’s global renewable power fund series. It seeks to invest across the spectrum of climate infrastructure assets, with a focus on renewable power generation, and energy storage and distribution.
BlackRock achieves $4 8bn close on global renewable power fund citywireselector.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from citywireselector.com Daily Mail and Mail on Sunday newspapers.
BlackRock raises US$4.8 billion for renewables investment
BlackRock bought US PV developer Distributed Solar Development last year. Image: BlackRock
Asset managing giant BlackRock has raised US$4.8 billion from institutional investors to fund renewable power generation projects in Europe, Asia and the Americas.
BlackRock has closed the third fund of its Global Renewable Power Fund (GRPIF), securing investment from a range of pension funds, foundations, family offices and insurance companies from 18 countries.
The announcement comes after BlackRock managed to break its own fundraising record with the same GRPIF vehicle last April, bringing in US$5.1 billion in commitments from investors, two years after fundraising began.
NEW YORK (BUSINESS WIRE) Apr 8, 2021
BlackRock Real Assets has successfully achieved a US$4.8 billion final close of Global Renewable Power Fund III (âGRP IIIâ or the âFundâ) with commitments from over 100 institutional investors, including leading public and private pension funds, insurance companies, endowments, foundations and family offices from over 18 countries globally.
GRP III is the third vintage of BlackRockâs Global Renewable Power fund series and the fifth Fund overall, which invests in global climate infrastructure assets, primarily in renewable power generation, across Americas, Europe and Asia. GRP III seeks to deliver attractive risk-adjusted returns with positive and measurable environmental and social impact by investing across the spectrum of renewable power and supporting infrastructure globally, including energy storage and distribution and electrified transport. Its opportunity set reflects the evolving renewable energy market as well