Investing
BlackRock secures $1 billion for Evergreen Infrastructure fund
© Reuters.
BlackRock (NYSE:)’s Evergreen Infrastructure fund, under the stewardship of James Berner and David O’Brien, has successfully raised nearly $1 billion from European investors, marking a significant milestone in the fund’s journey. The fund is poised to take over Lighthouse, a U.S.-based solar and battery platform that benefits from the U.S. Inflation Reduction Act, signaling a strategic move towards sustainable infrastructure development.
This new fund is part of BlackRock Private Markets and extends BlackRock’s substantial $48 billion infrastructure platform. It is entrusted with managing $317 billion in liquid and illiquid alternative investments as of September 30, 2023. The Evergreen Infrastructure fund aims to invest in sectors crucial for the energy transition, including security, transportation, digital infrastructure, and the circular economy, with a focus on Europe and North America, especially Western Europe.
Anne Valentine Andrews, Global Head of Infrastructure at BlackRock, shared her enthusiasm about the first close of the fund. She underscored the importance of aligning the fund’s portfolio with climate goals by tracking Temperature Alignment Key Performance Indicators that are in line with limiting global temperature rise to 1.5°C.
European institutional investors have shown strong support for BlackRock’s sustainable investment strategy. Intesa Sanpaolo (OTC:) S.p.A., Italy’s largest banking group, and Inarcassa, an Italian pension scheme for engineers and architects, are among the cornerstone commitments to the Evergreen Infrastructure fund. Intesa Sanpaolo Executive Director Flavio Gianetti highlighted the critical role of developing sustainable infrastructure in their investment decisions. Similarly, Inarcassa Chairman Giuseppe Santoro reaffirmed their commitment to environmental, social, and governance (ESG) principles by joining the fund.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Read the full article here
-
Passive Income6 days ago
Are You Running Your Business, or Is Your Business Running You?
-
Side Hustles6 days ago
How Your Body Language Can Help Win a Disagreement
-
Side Hustles5 days ago
How to Be Unapologetically You and Why It Matters
-
Investing6 days ago
7 Marketing Strategies to Help Your Startup Grow and Scale
-
Side Hustles6 days ago
OpenAI Raises Record $6.6 Billion, Adds 50 Million New Users
-
Side Hustles4 days ago
Mark Zuckerberg Is Now Second Richest Person in the World
-
Investing4 days ago
Nvidia CEO Jensen Huang: Demand For Blackwell AI Is Insane
-
Side Hustles5 days ago
With AI Magicx, It’s Like Getting an Entire Creative Team in One Money-Saving AI Tool