BlackRock has announced a $5.1 billion final close of its Global Energy & Power Infrastructure Fund III (GEPIF III), making it the largest alternative investment fundraise in the firm’s history.
The final close exceeded both the original fund target of $3.5 billion as well as the hard cap of $4.5 billion.
The fund was backed by more than 50 institutional investors, including public and private pension funds, sovereign wealth funds, foundations, insurance companies and non-profit organizations across the United States, Europe, Asia and the Middle East.
More than 70 percent of the commitments are from investors in the prior fund, according to BlackRock.
“This milestone is a testament to BlackRock’s focus on helping clients achieve better investment outcomes,” said Edwin Conway, global head of BlackRock Alternative Investors. “Investors are looking to build resilience into their portfolios and ballast against equity market shocks by increasing
