BlackRock Real Assets has completed a $1.67 billion final close for its Global Infrastructure Debt Fund (GID), representing more than three times the initial fundraising target. The funds raised included $150 million in co-investments.
The fund was backed by more than 20 institutional investors, including major global insurance companies, public and private pension funds, and family offices, from the United States, Canada, Japan and Korea.
GID is BlackRock’s first commingled fund offering in the high-yield infrastructure debt market. The fund targets infrastructure investments in essential real assets, located primarily in developed markets and backed by visible cash flow streams. The fund sits alongside $1.3 billion managed through investment-grade commingled funds.
BlackRock Real Assets established its infrastructure debt investment capability in 2013 and currently manages $16.6 billion in global client commitments, which represents one-quarter of BlackRock