Macquarie Asset Management has achieved the final close of its Macquarie Green Energy Transition Solutions (MGETS) fund with more than $3bn (€2.5m) of fund and co-investment commitments.
Macquarie said the fund exceeded its target size of $2bn, attracting capital from a diversified global investor base, spanning pension funds, insurance companies, sovereign wealth funds and asset managers across EMEA, Asia-Pacific, and the Americas.
MGETS is Macquarie’s first dedicated energy transition fund that targets opportunities beyond mature renewables. MGETS is focused on investing in companies that leverage proven technologies and infrastructure to provide solutions to decarbonising energy sectors across the economy. The fund’s target subsectors include energy storage, distributed energy, renewable fuels, clean transportation, carbon capture and circular economy.
Chris Archer, executive director at MAM Green Investments, said: “The significant investment requirements of the global energy transition present an opportunity to build the infrastructure of tomorrow while delivering attractive risk-adjusted returns for our investors. Key to this will be building out proven technical solutions that are now becoming more widely deployed.
“Drawing on our global asset management expertise and green investment capabilities, we are proud to be able support the growth and de-risking of businesses and bring them to scale. We are delighted to reach the final close of MGETS and thank our investors for their continued confidence and support.”
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