BlackRock, the world’s biggest asset manager, has set up a unit called Transition Capital to invest in opportunities linked to the global shift to a low-carbon economy, a memo to staff seen by Reuters showed.
BlackRock, which manages around $8 trillion in assets, said Transition Capital would work with portfolio managers and BlackRock’s capital markets team to find and back “proprietary transition-focused opportunities” across asset classes and geographies.
The new unit will be part of BlackRock Alternatives and run by Dickon Pinner, who previously led on sustainability at consultant McKinsey, where he advised on the transition, the memo said.
Read more: Reuters
