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Laxman Pai, Opalesque Asia:

Macquarie Asset Management has raised more than $3 billion for its first dedicated energy transition fund, surpassing its initial target by over $1 billion, as investors continue to channel capital into decarbonization strategies.

The fund, Macquarie Green Energy Transition Solutions (MGETS), closed with $2.4bn in commitments alongside $647mn in co-investments. Backers include pension funds, insurers, sovereign wealth funds, and asset managers from across Europe, Asia-Pacific, and the Americas.

Unlike earlier funds focused largely on mature renewables, MGETS is targeting technologies and infrastructure that can accelerate decarbonisation across a broader set of sectors. Investment themes include energy storage, distributed energy, renewable fuels, clean transportation, carbon capture, and the circular economy.

The fund has already deployed more than 65% of its capital across 12 deals, building a globally diversified portfolio. Investments include Eku Energy, a battery storage developer active in Europe and Asia-Pacific; SkyNRG, a sustainable aviation fuel producer; Calibrant Energy, which provides distributed energy solutions in North America; and Verkor, a French battery manufacturer for electric vehicles.

One of its latest deals involved Vertelo, an Indian fleet electrification platform. A dedicated investment vehicle managed by Macquarie raised $405mn for Vertelo, including $133mn from MGETS. The transaction combined comme......................

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