The Minnesota State Board of Investment has approved up to $100 million in capital for BlackRock’s Global Renewable Power III fund.
The investment was approved at the pension fund’s Aug. 22 state board of investments meeting and will add on to the pension fund’s existing contribution of $70.8 million, according to a June performance report.
The commitment was made on behalf of Minnesota’s resources portfolio, which includes energy, infrastructure and other “hard assets.”
BlackRock infrastructure portfolio offers strategies across the risk/return spectrum, assisting investors to invest for outcomes. The firm manages $11 billion in assets for its infrastructure portfolio.
