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Alternative Market Briefing

BlackRock raises $1.7bn for new infrastructure debt fund

Tuesday, June 15, 2021

Laxman Pai, Opalesque Asia:

BlackRock Real Assets has raised $1.67bn for its inaugural global infrastructure debt strategy to finance data centers, toll roads, wind energy, and other infrastructure projects around the world.

BlackRock wrapped up its Global Infrastructure Debt (GID) Fund at more than three times its initial goal, the New York firm said. The total amount raised includes $150 million in capital for co-investment deals.

The fund has seen commitments from over 20 institutional investors, including leading global insurance companies, public and private pension funds, and family offices, from the United States, Canada, Japan, and Korea, representing more than three times the initial fundraising target.

BlackRock Real Assets established its infrastructure debt investment capability in 2013 and has an extensive track record across both investment grade and high yield infrastructure debt. Today, the GID team manages US$16.6 billion in global client commitments, which represents approximately one-quarter of BlackRock Real Assets' total client commitments.

According to a press release from the American multinational investment management corporation, GID is BlackRock's first commingled fund offering in the high-yield infrastructure debt market, complementing the firm's existing capabilities across the capital structure in senior debt and equity. The fund sits alongside US$1.3 billion managed through investment-grade commingled funds.

GID targets infra......................

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