US asset management giant BlackRock Inc has raised US$4.5 billion for its fourth fund investing in climate-focused infrastructure projects.
The Global Infrastructure Fund IV aims to deliver “resilient cash flow and long-term capital appreciation”, and has attracted investments from public and private pension funds, sovereign wealth funds, insurance companies and family offices, BlackRock says in a statement on October 25. It did not identify the investors.
The company says the new fund is managed by the same global team of 60-plus infrastructure experts who manage the three predecessor funds.
According to Mark Florian, the company’s global head of diversified infrastructure, response to the new fund is “a testament to BlackRock’s differentiated sourcing capabilities, disciplined investment approach and commitment to creating value for our clients”.
New York-based BlackRock, the world’s largest asset manager, had $8 trillion of assets under management as of end-September, including $313 billion in alternatives.