BlackRock secures $1bn climate transition credit mandate

The deal was announced as part of the surprise launch of a new climate-focused investment manager by the Abu Dhabi royal family.

BlackRock has announced a partnership with an Abu Dhabi sovereign wealth fund to invest $1 billion into its climate-transition-oriented private debt strategy.

The Abu Dhabi royal family launched Altérra as the world’s largest private investment vehicle for climate change at the World Climate Action summit yesterday and announced its tie up with Blackrock today to commit a total of $2 billion to climate transition investments across equity and debt.

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