The American multinational investment management corporation, BlackRock has raised $4.8 billion for Global Renewable Power Fund III with commitments from over 100 institutional investors, including leading public and private pension funds, foundations, insurance companies, endowments and family offices from over 18 countries globally.
GRP III, which invests in global climate infrastructure assets, primarily in renewable power generation across Europe, Americas, Asia and north America.
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 as investors’ growing interest in investments that support the transition to a low carbon economy.
David Giordano, The Global Head of BlackRock Renewable Power, said
“We are delighted with the success of this fundraise, which is a testament to the strong global demand for renewable power assets and to our team’s ability to build resilient portfolios that help clients meet their financial and sustainability objectives,”
“By sourcing, building, and optimising assets throughout their lifecycle, we believe that renewable power has the potential to generate attractive risk adjusted returns and stable cash yields for investors with low correlation to the economic cycle.”
BlackRock Real Assets’ dedicated teams of industry and sector specialists deliver global reach, with deep local expertise. They have decades of relevant experience, are deeply embedded in their operating industries by sector and geography and have developed strong partnership networks over time.
BlackRock’s culture of risk management, knowledge sharing and investment discipline sets BlackRock Real Assets apart and underpins all that they do.
With over 390 professionals in 30 offices managing over US$60 billion in client commitments as of December 31, 2020, BlackRock Real Assets partners with clients to provide solutions tailored to individual portfolio needs such as income, growth, liquid or balanced real assets outcomes.
