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
BlackRock manages around $8 trillion in assets, the new fund will be called Global Infrastructure Fund IV.
The new fund will invest in five sectors; energy, low carbon power, transport and logistics, regulated utilities, and digital infrastructure. In hopes to capitalize on the growing trend towards decarbonization and digitalization.
Its previous infrastructure fund raised $5.1 billion in 2020.