KKR Fund Secures Investment From UAE Blended-Finance Vehicle
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Article content(Bloomberg) — A $30 billion fund backed by the United Arab Emirates has committed to invest in KKR & Co. Inc’s global climate transition fund.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentAlterra, an Abu Dhabi-based investment vehicle that operates as a fund of funds, is overseen by the UAE and focused on clean energy investments. The vehicle, which has already announced deals with BlackRock Inc., Brookfield Asset Management Ltd. and TPG Inc., said in a statement on Tuesday the partnership with KKR is part of its commitment to invest in real assets that can accelerate decarbonization.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentDetails of the size of the financial commitment weren’t included in the statement. Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentIntroduced at the COP28 climate summit in Dubai in 2023, Alterra is designed to enable blended finance by making it more appealing for private finance to back the energy transition through the use of de-risking structures. The UAE has said the model has the potential to unleash $250 billion of climate finance by 2030, much of which will be channeled into developing markets. Article contentGrowing demand for energy and an increased focus on the security of energy supply, as well as the increasing cost competitiveness of clean technologies, are driving investor demand for infrastructure across electrification, grid resilience and industrial decarbonization, Alterra said. KKR’s climate transition strategy invests in a number of companies that play into those themes from renewables, to energy storage and sustainable fuels, according to the statement.Article contentThe strategy is managed by KKR’s Charlie Gailliot and Emmanuel Lagarrigue.Article contentArticle contentArticle contentArticle contentTrending Solomon says U.S. recession risk could be 'one tweet away' PMN Business Toronto's condo market 'hits bottom' with some developers looking at selling units below cost Real Estate From where the deals are to where prices dropped most, 5 key things to know about the spring real estate market Real Estate Posthaste: This fiscal edge has helped Canada become the 'cleanest dirty shirt' in the G7 News Latest inflation data reinforce rate cuts would be on the table if not for Iran, says economist Economy Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Solomon says U.S. recession risk could be 'one tweet away' PMN Business Toronto's condo market 'hits bottom' with some developers looking at selling units below cost Real Estate From where the deals are to where prices dropped most, 5 key things to know about the spring real estate market Real Estate Posthaste: This fiscal edge has helped Canada become the 'cleanest dirty shirt' in the G7 News Latest inflation data reinforce rate cuts would be on the table if not for Iran, says economist Economy