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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 veteran joins Lindsay Goldberg as partner
Cathleen Ellsworth joined alternative investment firm Lindsay Goldberg as a partner, according to a spokesman.
The position is new. Ms. Ellsworth is in charge of capital raising and investor relations at the firm.
Ms. Ellsworth comes from BlackRock, where she was a managing director, head of fundraising and investor relations, and co-head of co-investments and capital formation for its Global Energy & Power Infrastructure Fund.
Ms. Ellsworth joined BlackRock in 2017 when the asset manager acquired the energy infrastructure business of private equity firm First Reserve.
“Cathleen Ellsworth informed us of her decision to pursue a new opportunity after 30 years with BlackRock’s Global Energy & Power Infrastructure Funds business (including her time at First Reserve),” BlackRock said in a statement. “We are grateful for her many contributions and wish her all the best in her future endeavors.”