🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

BlackRock secures $1 billion for Evergreen Infrastructure fund

EditorAmbhini Aishwarya
Published 16/11/2023, 09:32
© Reuters.

BlackRock (NYSE:BLK)'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:ISNPY) 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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.