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 as investorsâ growing interest in investments that support the transition to a low carbon economy.