UK markets close in 1 hour 46 minutes
  • FTSE 100

    7,118.49
    +12.77 (+0.18%)
     
  • FTSE 250

    23,343.67
    +54.02 (+0.23%)
     
  • AIM

    1,260.15
    +1.46 (+0.12%)
     
  • GBP/EUR

    1.1728
    +0.0003 (+0.02%)
     
  • GBP/USD

    1.3953
    +0.0038 (+0.27%)
     
  • BTC-GBP

    28,097.43
    +341.03 (+1.23%)
     
  • CMC Crypto 200

    961.21
    +34.44 (+3.72%)
     
  • S&P 500

    4,408.98
    -14.17 (-0.32%)
     
  • DOW

    34,913.14
    -203.26 (-0.58%)
     
  • CRUDE OIL

    68.30
    -2.26 (-3.20%)
     
  • GOLD FUTURES

    1,835.50
    +21.40 (+1.18%)
     
  • NIKKEI 225

    27,584.08
    -57.75 (-0.21%)
     
  • HANG SENG

    26,426.55
    +231.73 (+0.88%)
     
  • DAX

    15,620.74
    +65.66 (+0.42%)
     
  • CAC 40

    6,743.40
    +19.59 (+0.29%)
     

BlackRock Real Assets Achieves a US$1.67 Billion Final Fundraise for Inaugural Global Infrastructure Debt Strategy

·17-min read

Global Infrastructure Debt Fund is the largest first-vintage high yield infrastructure debt fund, tripling initial target

Positions BlackRock Real Assets as leading global infrastructure manager with investment capabilities across the capital structure 1

NEW YORK, Jun 14, 2021--(BUSINESS WIRE)--BlackRock Real Assets has achieved a US$1.67 billion final fundraise for the Global Infrastructure Debt Fund ("GID" or the "fund"), inclusive of US$150 million in co-investments. The fund has seen commitments from over 20 institutional investors, including leading global insurance companies, public and private pension funds, and family offices, from the United States, Canada, Japan, and Korea, representing more than three times the initial fundraising target.

BlackRock Real Assets established its infrastructure debt investment capability in 2013 and has an extensive track record across both investment grade and high yield infrastructure debt. Today, the GID team manages US$16.6 billion in global client commitments, which represents approximately one quarter of BlackRock Real Assets’ total client commitments.

GID is BlackRock’s first commingled fund offering in the high-yield infrastructure debt market, complementing the firm’s existing capabilities across the capital structure in senior debt and equity. The fund sits alongside US$1.3 billion managed through investment grade commingled funds. GID targets infrastructure investments in essential real assets located primarily in developed markets and backed by visible cash flow streams. The fund’s focus on essential assets helps deliver uncorrelated income and portfolio resilience, especially amidst global market uncertainty resulting from the pandemic.

The successful fundraise demonstrates the continued appeal of infrastructure debt investments for institutional investors, due to their potential for attractive income and portfolio diversification benefits. With regulatory and budget pressures limiting traditional bank and government lending in infrastructure, the opportunity for private investment has increased, with institutions looking to partner with experienced firms such as BlackRock, whose scale and resources provides access to a global opportunity set.

Jeetu Balchandani, Global Head of Infrastructure Debt at BlackRock, commented, "We are delighted with the success of our inaugural high yield fundraise. It is a testament to the team’s ability to deliver strong performance for our clients, leveraging our unique direct origination capability to meet the ever-growing desire for resilient infrastructure asset exposure. The team is working hard to close several attractive investment opportunities across key sectors, including digital infrastructure, which has emerged as a star of the pandemic. With an extensive forward investment pipeline, we believe we are poised to take advantage of opportunities across all major markets."

Anne Valentine Andrews, Global Head of BlackRock Real Assets, added, "As one of the largest infrastructure debt platforms in the world, we have natural and direct access to multiple origination channels and the ability to invest at scale to influence deal terms and pricing for the benefit of our clients. The Global Infrastructure Debt Fund continues to provide investors with the agility and resiliency they seek, which has made this an especially important fundraise through the pandemic."

As one of the world’s largest dedicated infrastructure debt providers, BlackRock Infrastructure Debt seeks to be positioned as a preferred lender for sponsors and borrowers seeking custom fit financing solutions on a direct basis, leveraging the team’s 20+ years of buy- and sell-side experience across senior members to both structure and execute deals. BlackRock’s infrastructure debt platform is differentiated as a true fiduciary manager that exclusively invests third party capital, ensuring that client objectives are at the center of all investment decisions.

As of March 31, 2021, BlackRock’s Infrastructure Debt platform has invested in over 125 projects across 18 countries in 4 continents. The 28-person team is based in New York, London, Bogota, and Hong Kong, enabling access to diverse opportunities for clients across the globe.

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate.

About BlackRock Real Assets

In today’s dynamic and complex global investing market, BlackRock Real Assets seeks to help clients access real assets that could help meet their investment goals by providing a distinct range of well defined, outcome orientated strategies, along the investment risk-return spectrum.

BlackRock Real Assets’ dedicated teams of industry and sector specialists deliver global reach, with deep local expertise. They have decades of relevant experience, are deeply embedded in their operating industries by sector and geography and have developed strong partnership networks over time. BlackRock’s culture of risk management, knowledge sharing and investment discipline sets BlackRock Real Assets apart and underpins all that they do. With over 390 professionals in 30 offices managing over US$63 billion in client commitments as of March 31, 2021, BlackRock Real Assets partners with clients to provide solutions tailored to individual portfolio needs such as income, growth, liquid or balanced real assets outcomes.

Disclosures

Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy. Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase. Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Levels and basis of taxation may change from time to time. Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.

Infrastructure Funds. Infrastructure Funds invest exclusively or almost exclusively in equity or debt, or equity or debt related instruments, linked to infrastructure assets. Therefore, in addition to risks associated with investment in such equity or debt instrument, the performance of an Infrastructure Fund may be materially and adversely affected by risks associated with the related infrastructure assets including construction and operator risks, environmental risks, legal and regulatory risks; political or social instability; governmental and regional political risks; sector specific risks; interest rate changes; currency risks; and other risks and factors which may or will impact infrastructure and as a result may substantially affect a fund’s aggregate return. Investments in Infrastructure assets are typically illiquid and investors seeking to redeem their holdings in an Infrastructure Fund can experience significant delays and fluctuations in value.

Liquidity Risk. The Fund’s investments may have low liquidity which often causes the value of these investments to be less predictable. In extreme cases, the Fund may not be able to realise the investment at the latest market price or at a price considered fair.

Valuation risk. The Fund will be exposed to securities and other assets that will not have readily assessable market values. The valuation of such securities and other assets is inherently subjective and subject to increased risk that the information utilised to value such assets or to create the price models may be inaccurate or subject to other error. Due to a wide variety of market factors and the nature of the securities and assets to which the Fund will be exposed, there is no guarantee that any value determined will represent the value that will be realised on the eventual disposition of the Fund’s investments or that would, in fact, be realised upon an immediate disposition of such investment.

Lack of available investments. The Fund will be competing for exposure to investments in a highly competitive market, against other funds, as well as individuals, financial institutions, strategic players and other investors, some of which may have greater resources than the Investment Manager. There can be no assurance that the Fund will be able to locate, attain and exit investments that satisfy its investment objectives, or that the Fund will be able to fully invest its committed capital.

Redemption risk. The Fund’s investments are generally illiquid and therefore an investment in the Fund is intended for long-term investors able to accept the risks associated with an illiquid investment and who are able to commit their funds for the duration of the Fund Redemptions, to the extent they are permitted, may be limited, postponed or altogether suspended in certain circumstances.

Important Information This material is for distribution to Professional Clients (as defined by the Financial Conduct Authority or MiFID Rules) only and should not be relied upon by any other persons.

Until 31 December 2020, issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel: + 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock. From 1 January 2021, in the event the United Kingdom and the European Union do not enter into an arrangement which permits United Kingdom firms to offer and provide financial services into the European Economic Area, the issuer of this material is: (i) BlackRock Investment Management (UK) Limited for all outside of the European Economic Area; and (ii) BlackRock (Netherlands) B.V. for in the European Economic Area, BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20-549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.

For investors in the Caribbean: Any funds mentioned or inferred in this material have not been registered under the provisions of the Investment Funds Act of 2003 of the Bahamas, nor have they been registered with the securities regulators of Bermuda, Dominica, the Cayman Islands, the British Virgin Islands, Grenada, Trinidad & Tobago or any jurisdiction in the Organization of Eastern Caribbean States, and thus, may not be publicly offered in any such jurisdiction. The shares of any fund mentioned herein may only be marketed in Bermuda by or on behalf of the fund or fund manager only in compliance with the provision of the Investment Business Act 2003 of Bermuda and the Companies Act of 1981. Engaging in marketing, offering or selling any fund from within the Cayman Islands to persons or entities in the Cayman Islands may be deemed carrying on business in the Cayman Islands. As a non-Cayman Islands person, BlackRock may not carry on or engage in any trade or business unless it properly registers and obtains a license for such activities in accordance with the applicable Cayman Islands law.

For investors in Israel: BlackRock Investment Management (UK) Limited is not licensed under Israel's Regulation of Investment Advice, Investment Marketing and Portfolio Management Law, 5755-1995 (the "Advice Law"). No action has been taken or will be taken in Israel that would permit a public offering or distribution of the products mentioned in this document to the public in Israel. The products mentioned in this document have not been approved by the Israel Securities Authority. In addition, the products mentioned in this document are not regulated under the provisions of Israel’s Joint Investment Trusts Law, 5754-1994 (the "Joint Investment Trusts Law"). This document has not been approved by the Israel Securities Authority and will only be distributed to Israeli residents in a manner that will not constitute "an offer to the public" under sections 15 and 15a of the Israel Securities Law, 5728-1968 (the "Securities Law") or section 25 of the Joint Investment Trusts Law, as applicable.

This document and the products mentioned herein are being offered to those categories of investors listed in the First Addendum (the "Addendum") to the Securities Law, ("Institutional Investors"); in all cases under circumstances that will fall within the private placement or other exemptions of the Joint Investment Trusts Law, the Securities Law and any applicable guidelines, pronouncements or rulings issued from time to time by the Israel Securities Authority. This document may not be reproduced or used for any other purpose, nor be furnished to any other person other than those to whom copies have been sent. Nothing in this document should be considered investment advice or investment marketing as defined in the Regulation of Investment Advice, Investment Marketing and Portfolio Management Law, 5755-1995. This document does not constitute an offer to sell or solicitation of an offer to buy any securities, nor does it constitute an offer to sell to or solicitation of an offer to buy from any person or persons in any state or other jurisdiction in which such offer or solicitation would be unlawful, or in which the person making such offer or solicitation is not qualified to do so, or to a person or persons to whom it is unlawful to make such offer or solicitation.

For recipients in Hong Kong: This document is provided by BlackRock Asset Management North Asia Limited. The Fund mentioned herein has not been registered with the Securities and Futures Commission for offering or distribution in Hong Kong. Accordingly, this material may not be circulated or distributed, nor may the Funds be offered or sold whether directly or indirectly, to any person in Hong Kong other than to a Professional Investor as defined in the Securities and Futures Ordinance ("SFO") (Cap. 571 of the laws of Hong Kong) and any regulations there under. Investments involve risks. Past performance is not a guide to future performance. This material is provided for informational or educational purposes only and does not constitute a solicitation of any securities or BlackRock funds in any jurisdiction in which such solicitation is unlawful or to any person to whom it is unlawful. Moreover, it neither constitutes an offer to enter into an investment agreement with the recipient of this document nor an invitation to respond to it by making an offer to enter into an investment agreement. Before making an investment decision, investors should read the relevant offering documents carefully including the investment objective and risk factors relating to the Fund.

For investors in Singapore, this information is issued by BlackRock (Singapore) Limited (company registration number: 200010143N) for use only by institutional investors as defined in Section 4A of the Securities and Futures Act, Chapter 289 of Singapore and should not be relied upon by or redistributed to any other persons in Singapore. The fund mentioned herein have not been registered with the Monetary Authority of Singapore for offering or distribution in Singapore. Accordingly, this information may not be circulated or distributed, nor may the funds be offered or sold whether directly or indirectly, to any person in Singapore other than (i) to an institutional investor pursuant to Section 304 of the Securities and Futures Act ("SFA") or (ii) otherwise pursuant to and in accordance with the conditions of any other applicable provision of the SFA. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.

In Australia & New Zealand, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523 (BIMAL) for the exclusive use of the recipient, who warrants by receipt of this material that they are a wholesale client as defined under the Australian Corporations Act 2001 (Cth) and the New Zealand Financial Advisers Act 2008 respectively.

This material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should therefore assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdiction.

This material is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. BIMAL is a part of the global BlackRock Group which comprises of financial product issuers and investment managers around the world. BIMAL is the issuer of financial products and acts as an investment manager in Australia. BIMAL does not offer financial products to persons in New Zealand who are retail investors (as that term is defined in the Financial Markets Conduct Act 2013 (FMCA)). This material does not constitute or relate to such an offer. To the extent that this material does constitute or relate to such an offer of financial products, the offer is only made to, and capable of acceptance by, persons in New Zealand who are wholesale investors (as that term is defined in the FMCA).

This material may include references to funds that are not registered for public distribution in Australia. Any such funds will be subject to the laws and regulations as required by their country of domicile and registration which may differ from those in Australia and therefore may not necessarily provide the same level of protection to investors as schemes registered in Australia and subject to Australian regulations and conditions.

This material has not been prepared specifically for Australian or New Zealand investors. It may contain references to dollar amounts which are not Australian or New Zealand dollars and may contain financial information which is not prepared in accordance with Australian or New Zealand law or practices. The fund(s) detailed in this material may not be registered for public distribution in Australia. The laws and regulations of any such fund’s country of domicile and registration may differ from those in Australia and therefore may not necessarily provide the same level of protection to investors as schemes registered in Australia and subject to Australian regulations and conditions.

BIMAL, its officers, employees and agents believe that the information in this material and the sources on which it is based (which may be sourced from third parties) are correct as at the date of publication. While every care has been taken in the preparation of this material, no warranty of accuracy or reliability is given and no responsibility for the information is accepted by BIMAL, its officers, employees or agents. Except where contrary to law, BIMAL excludes all liability for this information.

Any investment is subject to investment risk, including delays on the payment of withdrawal proceeds and the loss of income or the principal invested. While any forecasts, estimates and opinions in this material are made on a reasonable basis, actual future results and operations may differ materially from the forecasts, estimates and opinions set out in this material. No guarantee as to the repayment of capital or the performance of any product or rate of return referred to in this material is made by BIMAL or any entity in the BlackRock group of companies.

No part of this material may be reproduced or distributed in any manner without the prior written permission of BIMAL.

In Korea: In Korea for Professional Investors only. Neither the Fund nor BlackRock is making any representation with respect to the eligibility of any recipients of these materials to acquire interests in the Fund under the laws of Korea, including but without limitation the Foreign Exchange Transaction Act and Regulations thereunder. This document contains general information only and is not intended to represent general or specific investment advice. The information does not take into account your financial circumstances. An assessment should be made as to whether the information is appropriate for you having regard to your objectives, financial situation and needs.

Any research in this document has been procured and may have been acted on by BlackRock for its own purpose. The results of such research are being made available only incidentally. The views expressed do not constitute investment or any other advice and are subject to change. They do not necessarily reflect the views of any company in the BlackRock Group or any part thereof and no assurances are made as to their accuracy. This document is for information purposes only and does not constitute an offer or invitation to anyone to invest in any BlackRock funds and has not been prepared in connection with any such offer.

© 2021 BlackRock, Inc. All Rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, iSHARES, BUILD ON BLACKROCK and SO WHAT DO I DO WITH MY MONEY are trademarks of BlackRock, Inc. or its subsidiaries in the United States and elsewhere. All other trademarks are those of their respective owners.

____________________
1 Based on third-party capital under management

View source version on businesswire.com: https://www.businesswire.com/news/home/20210614005075/en/

Contacts

Media

Christopher Beattie
+1 646 231-8518
christopher.beattie@blackrock.com

Venetia Hendy
+44 777 649 6563
venetiaceleste.hendy@blackrock.com

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting