Global Infrastructure Solutions 3 completes first close
BlackRock Real Assets has announced the first close of its third multi-manager infrastructure equity fund, Global Infrastructure Solutions 3, with total equity commitments of €186 million ($199 million). The closing comprises investors from Switzerland, Germany and Liechtenstein, with both new and existing limited partners from the predecessor funds.
GIS 3 is a globally diversified infrastructure multi-manager equity fund that provides cost-efficient access to a portfolio of funds and co-investments in Europe, North America and selected growth markets. The euro-denominated closed-end fund has an 18-month capital-raising period and a 15-year fund life.
The GIS 3 initial portfolio of funds and co-investments includes eight investments that have either closed or are in the process of closing.