BlackRock Inc has raised $4.5 billion out of an overall $7.5 billion-target for a new fund to invest in infrastructure assets aimed at climate-focused projects, the world's largest asset manager said on Tuesday.
has raised $4.5 billion out of an overall $7.5 billion-target for a new fund to invest in infrastructure assets aimed at climate-focused projects, the world's largest asset manager said on Tuesday.
BlackRock, which manages around $8 trillion in assets, said public and private pension funds, sovereign wealth funds, insurance companies and family offices had invested in the new fund, which will be called Global Infrastructure Fund IV. The asset manager said the new fund will invest in five sectors –– energy, low carbon power, transport and logistics, regulated utilities, and digital infrastructure –– to capitalize on the growing trend towards decarbonization and digitalization.Earlier this month, BlackRock Chief Executive Officer Larry Finkenergy investments after facing a backlash from lawmakers critical of its stance on environmental, social and governance issues.
BlackRock has faced criticism from many sides in the debate on low-carbon fuels, with environmentalists protesting it does too little to press for change at fossil fuel portfolio companies, and Republican U.S. politicians accusing it of boycotting energy stocks.to invest in opportunities linked to the global shift to a low-carbon economy.Our Standards:
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