Category: Private markets
Partnership follows launch of BlackRock’s record-breaking climate ETFs last week Partnership follows launch of BlackRock’s record-breaking climate ETFs last week Partnership follows launch of BlackRock’s record-breaking climate ETFs last week
Apr 13th, 2021
US investment behemoth Blackrock and Singapore's state-owned investment company Temasek have announced that they will team up to launch a series of “late stage venture capital and early growth private equity investment funds” focused on innovative decarbonisation solutions.
The partnership – named Decarbonization Partners – will initially see the duo commit $600m between them, to invest in “multiple” funds. The partnership will seek third-party capital and has set a fundraising target of $1bn for its first fund.
Judging by the launch of BlackRock’s climate ETFs last week, attracting capital shouldn’t be a challenge. More than $1.2bn flowed into the asset manager’s US-focused Carbon Transition Readiness fund on its first day, making it the largest ETF launch of all time. Finnish investment giant Varma provided a €200m anchor investment for the strategy, which began trading on the New York Stock Exchange on Thursday, and Temasek was anothe…