BlackRock and ALTÉRRA, the world’s largest private investment vehicle for climate change launched at the World Climate Action Summit, have forged a new partnership that will see $2 billion invested in climate opportunities across BlackRock’s private debt and infrastructure equity strategies.
The investment solution created for the partnership, “BlackRock Climate Transition Vehicle,” will be capitalized with investments from both ALTÉRRA Acceleration and ALTÉRRA Transformation.
ALTÉRRA Acceleration will allocate $1 billion to BlackRock’s Climate Transition-Oriented Private Debt strategy (CPD), a new private debt strategy focused on the low-carbon transition. Launched in October, CPD uses a proprietary climate transition-ratings framework to evaluate and finance a range of middle-market companies, primarily in Europe and the United States, that demonstrate climate-transition characteristics and are committed to reducing their carbon emissions.
ALTÉR
