BlackRock Real Assets has successfully achieved a USD4.8 billion final close for Global Renewable Power Fund III (GRP III) with commitments from over 100 institutional investors, including leading public and private pension funds, insurance companies, endowments, foundations and family offices from over 18 countries globally.

The Fund has actively begun investing capital and to date has already completed three investments in Europe, Asia, and North America. These investments include onshore wind in Europe, solar in Asia, and distributed solar generation in the US, with each project playing a vital role in the region’s road to net zero. GRP III follows GRP I, a 2012 vintage, and GRP II, a 2016 vintage, both of which are fully invested.

BlackRock’s Global Renewable Power platform has invested in over 250 wind and solar projects across 13 countries in four continents. The Global Renewable Power team consists of 54 professionals, with an average of 20 years of investment and technical expertise. The team manages over USD9 billion of client capital, with an emphasis on globally diversified portfolios, measurable climate impact and differentiated sourcing.

Read more at Private Equity Wire

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