BlackRock is planning to launch a global open-ended infrastructure vehicle to invest in core assets.
The asset manager said the perpetual infrastructure strategy is expected to partner with infrastructure businesses over the long term to help drive the global energy transition.
BlackRock is a leader in the energy transition, having mobilised over $55bn (€53bn) of “investments across our infrastructure strategies since their inception”, said Anne Valentine Andrews, the global head of BlackRock Real Assets. “Our ability to convene companies, governments and institutional clients means we are uniquely placed to deploy capital from investors globally into real assets that drive the energy transition and have a positive impact on local communities and economies.”
Back in January, BlackRock raised €1.4bn for Global Infrastructure Solutions 4 (GIS 4), a private infrastructure equity fund which primarily targets brownfield infrastructure investments in ”developed markets benefitting from secular, long-term trends such as digitalisation, decarbonisation, and decentralisation”.
BlackRock said over half of the yet-to-be-launched open-ended strategy will be allocated to Europe initially, becoming increasingly global over the decades to come.
The fund will target investments in the “megatrends of energy transition and energy security”, as well as digital and community infrastructure, sustainable mobility, and the circular economy, the manager said.
Edwin Conway, the global head of BlackRock Alternative Investors, said: “We believe the intersection of infrastructure and sustainability will be one of the biggest opportunities in alternative investments in the coming years.
“At the same time, recent events have sharpened the focus on energy security and further compounded the need for infrastructure investment.”
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