BlackRock Unveils Perpetual Infrastructure Strategy For Energy Transition, Security

  • BlackRock Inc BLK will establish a perpetual infrastructure strategy to help companies transition to lower-carbon business models over time.
  • Over half of the strategy will be allocated to Europe initially.
  • BlackRock had initially planned 35% - 40% of its investments in Europe, Financial Times reported.
  • The perpetual capital strategy will start with money in the “single-digit billions” from a few cornerstone investors, BlackRock said, with plans to grow it significantly, the report mentioned.
  • The strategy will pursue investments in energy transition and security, digital and community infrastructure, sustainable mobility, and the circular economy. 
  • It will seek to deploy capital into fully businesses such as utilities and end-to-end renewable energy infrastructure players, as well as data centers, grid digitization technologies, battery storage systems, and natural gas storage and transport facilities adaptable to incorporate hydrogen. 
  • The report noted perpetual infrastructure offering is being pitched to long-term investors as a source of stable returns and a hedge against inflation.
  • BlackRock intends to launch underlying open-ended investment vehicles and will be seeking founding partners in 2H of 2022. The open-ended structures will provide the ability to continuously raise and invest capital over the life of the strategy.
  • Price Action: BLK shares closed 1.47% higher at $599.90 on Wednesday.
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