BlackRock nears USD 5bn final close on energy infra fund

01 April 2020 - 12:00 am UTC

BlackRock is set to reach a final close early this month at between USD 4.5-5bn on its Global Energy and Power Infrastructure Fund III.

BlackRock Real Assets is set to reach a final close on fund raising early this month at between USD 4.5-5bn on its third global energy and power infrastructure fund, BlackRock Global Energy and Power Infrastructure Fund III (GEPIF III), SparkSpread has learned.

The New York-based fund manager previously had set a target size of USD 3.5bn and a hard cap of USD 4.5bn for the fund.

BlackRock reached a first close for GEPIF III in June 2018 at USD 1.5bn.

Th fund is being managed by the former First Reserve energy infrastructure team, led by Mark Florian, that BlackRock acquired in 2017. 

GEPIF III is a successor to two previous First Reserve energy infrastructure funds that raised USD 1.23bn and USD 2.5bn, respectively.

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