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LONDON (Reuters) - Macquarie, the world’s largest infrastructure investor, has raised 1.6 billion euros ($1.93 billion) for its second global renewables fund, driven by strong demand from institutional investors in Britain and Germany.
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Countries and companies are seeking to increase their usage of renewable energy to lower carbon emissions and fight climate change. At the same time, record low interest rates have crimped fixed income returns and boosted the allure of alternative assets.
Macquarie Infrastructure and Real Assets (MIRA), manager of the fund, said it had drawn investment from 32 institutions, including pension schemes, insurers and sovereign wealth funds, helping it exceed a minimum target of 1 billion euros.
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Date: 27 May 2021
Feb 10 2021, 7:28 PM
February 10 2021, 1:30 PM
February 10 2021, 7:28 PM
(Bloomberg) Macquarie Group Ltd.âs green investment arm raised 1.6 billion euros ($1.94 billion) for a renewable energy fund.
(Bloomberg) Macquarie Group Ltd.âs green investment arm raised 1.6 billion euros ($1.94 billion) for a renewable energy fund.
The companyâs Green Investment Group Renewable Energy Fund 2 closed after exceeding its target of 1 billion euros and received commitments from 32 pension funds and insurers from largely the U.K. and Germany, as well as from some sovereign wealth funds, according to a statement.
Renewables and the green transition has been identified as one of the biggest areas for global economic growth. Everyone from niche technology companies to energy majors are stepping into the field, as countries around the world pledge to reach net-zero.