BlackRock raises $4.8bn for renewable power fund Friday, April 09, 2021
Laxman Pai, Opalesque Asia:
American multinational investment management corporation BlackRock Inc. has raised $4.8 billion for a new fund to invest in renewable power assets around the world - almost double its initial target.
The total for the firm s GRP III was almost three times the size of GRP II, which closed in July 2017 at $1.7 billion.
BlackRock Real Assets closed on its third global renewable power fund (GRP III), drawing money from over 100 institutional investors, including leading public and private pension funds, insurance companies, endowments, foundations, and family offices from over 18 countries globally.
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
Distributed Solar Development is now 100% owned by BlackRock bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
BlackRock Real Estate closes fifth Asia property fund at $1.2b, surpassing target
Photo: Pradeep Gaur/Mint
March 2, 2021
BlackRock Real Estate, the realty investment management arm of global investment manager BlackRock, has closed its fifth Asia-focused fund with capital commitments amounting to $1.175 billion, it announced on Tuesday.
The fifth fund, BlackRock Asia Property Fund V, which invests in real estate assets across Asia Pacific, was oversubscribed and surpassed its $1 billion target, the investment firm said in a statement.
The fund’s investors include new and existing institutional investors across Europe, Asia, and the Americas comprising private pension funds, insurance companies, sovereign wealth funds, family offices, and endowments. In addition, 75% of clients in the predecessor fund invested in the fifth fund, the statement added.