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.