BlackRock Real Assets specializes in providing investment strategies for clients in a number of sectors, including infrastructure, real estate and renewable energy. BlackRock Real Assets has raised US$4.8 billion in the final close of its Global Renewable Power Fund III (GRP III). The fund is the third vintage of BlackRock’s global renewable power fund series. GRP III is the third vintage of BlackRock’s global renewable power fund series. The original target was $3.5 billion and … BlackRock said on Wednesday this was the largest alternative investment fundraising campaign in the company’s history. BlackRock said GRP III seeks to deliver attractive risk-adjusted returns with positive and measurable environmental and social impact by investing “across the spectrum of renewable power and supporting infrastructure globally, including energy storage, distribution and electrified transport”. The BlackRock Global Energy & Power Infrastructure Fund III is the largest alternative investment fundraise for the money management firm. BlackRock Inc. has raised $4.8 billion for a new fund to invest in renewable power assets around the world - almost double its initial target. BlackRock Inc. has raised $4.8 billion for a new fund to invest in renewable power assets around the world – almost double its initial target. It seeks to invest across the spectrum of climate infrastructure assets, with a focus on renewable power generation, and energy storage and distribution. According to the New York asset manager, the fundraising makes its Global Renewable Power Fund III the largest global independent climate infrastructure fund, … The second one raised $1.65 billion and has committed nearly all of it. BlackRock Real Assets aims to raise a total of $2.5 billion for the fund, Giordano said. Its renewable power group manages $5.5 billion in assets. The Global Energy & Power Infrastructure Fund III (GEPIF III) was initially expected to raise USD 3.5 billion and had an original hard cap of USD 4.5 billion. The company’s real assets division closed on its third global renewable power fund, drawing money from over 100 institutional investors. Commitments came from over 100 institutional investors, including leading public and private pension funds, insurance companies, endowments, foundations and family offices from over 18 countries globally. Its first renewables fund raised $611 million and is full invested. GRP III is the third vintage of BlackRock’s global renewable power fund series. BlackRock Real Assets has achieved a $4.8bn final close for its third flagship renewable energy fund.