- 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.
- Photo Via Company
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.