Renewables

The vehicle, co-led by former Bank of England governor Mark Carney and Brookfield renewables chief Connor Teskey, has a $12.5bn hard-cap.

Some $57bn was raised by 39 funds in the first half of the year, with dedicated renewables strategies figuring prominently.

Vehicles dedicated to the strategy accounted for more than 33% of the nearly $57bn raised in the first half, as 2021 gears up for a strong showing.

The renewable energy investor has smashed its €800m target and is looking at new countries and sub-sectors with Fund IV.

Currently sitting at $70bn, the majority of this growth is to come from the asset class, particularly in Asia, global head Anne Valentine Andrews tells us.

The energy transition-focused fund manager has deployed roughly 60% of Infragreen IV and plans to launch Fund V, for which it will link carried interest to ESG objectives, next spring.

Stonepeak’s Global Renewables Fund, which has invested $800m to date, seeks to focus on developed markets with stable regulatory frameworks.

BlackRock’s Larry Fink is latest to call on the World Bank and IMF to shift from lending to catalysing private capital investment in emerging markets.

Dai-ichi Life, Standard Chartered, MUFG and a fourth LP have committed $137.5m to the blended finance vehicle, targeting emerging markets climate infra.

Vortex Energy IV, which is targeting $700m, is looking to invest across the energy transition spectrum in Europe, North America and Australia.