NEW YORK - BlackRock (NYSE:BLK) has successfully raised nearly $1 billion for its Evergreen Infrastructure Fund, an open-ended equity fund targeting core infrastructure investments. The fund has garnered significant interest from European partners, including foundational investors Intesa Sanpaolo (OTC:ISNPY) and Inarcassa, who are primarily focusing their investments in Italy.
The capital injection is earmarked for a variety of sectors, with a keen focus on energy transition and security. This aligns with BlackRock's broader strategy of supporting sustainable infrastructure development. Anne Valentine Andrews, on Friday, emphasized the company's commitment to fostering strategic partnerships that advance a lower-carbon economy.
The Evergreen Infrastructure Fund has outlined plans to acquire Lighthouse, a move set to enhance the U.S. commercial and industrial solar sector across six states. Moreover, the fund is eyeing assets in the transportation and digital infrastructure sectors. This strategic expansion comes as BlackRock manages a hefty $317 billion portfolio that includes climate-focused initiatives like New Zealand's renewable electricity project and CPD for net-zero emissions transitions.
Evergreen's investment strategy also involves engaging with companies on decarbonization activities while keeping a close watch on temperature alignment KPIs against a 1.5-degree Celsius scenario. This initiative reflects a growing trend among institutional investors to prioritize sustainable and resilient infrastructure projects that offer consistent returns and are linked to inflation resilience.
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