BlackRock Real Assets has completed the first close of its latest energy and power infrastructure fund, Global Energy & Power Infrastructure Fund III. GEPIF III focuses on equity investments in the mid-market energy and power infrastructure value chain primarily in developed countries.
GEPIF III has secured US$1.5 billion in commitments from prominent institutional investors in North America, Middle East, Europe and Asia, subject to certain post-closing conditions.
GEPIF III is the third fund in the Global Energy & Power Fund series. In June last year, BlackRock acquired the First Reserve Energy Infrastructure Franchise from First Reserve, L.P. The Infrastructure Team that joined BlackRock from First Reserve, L.P. continues to manage the previous two funds and formed a new Global Energy & Power Infrastructure group within BlackRock Real Assets, complementing the existing infrastructure franchise of BlackRock.