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Laxman Pai, Opalesque Asia: BlackRock Alternatives, through its Infrastructure business, has raised $4.5bn in the first close of its fourth Global Infrastructure Fund, which is more than half its targeted size.
BlackRock Global Infrastructure Fund IV (Infra IV) is targeting $7.5bn and follows Global Energy & Power Infrastructure Fund III (GEPIF III) which closed on $5.1bn in 2020.
According to a media statement, Infra IV, which invests in essential infrastructure assets globally, secured initial commitments from a diverse group of institutional investors, including public and private pension funds, sovereign wealth funds, insurance companies, and family offices.
"These clients are based around the world, including from the United States, Asia, Europe, and the Middle East. Over 75 percent of the commitments in the Fund are from investors who have invested in prior vintages of the strategy," it said.
The Fund is the fourth vintage of BlackRock's flagship global diversified infrastructure equity fund series and builds on the strategy of the Global Energy & Power Infrastructure Funds. Infra IV seeks to deliver resilient cash flow and long-term capital appreciation to investors and is managed by the same global team of more than 60 infrastructure experts as its three predecessor funds.
The group is led by Mark Florian and a senior team with 20 years of average industry experience, most of whom have been investing together for over a decade.
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