The Article 9 fund will invest in projects to restore forests, wetlands and mangroves in developing countries.
The vehicle is part of a series of debt funds targeting €200m to €500m, designed to invest into direct loans originated by the bank.
The fund, the first dedicated impact vehicle for the renewables manager, launched in 2020 seeking £500m from LPs.
The firm’s $1bn haul for its first dedicated commingled infra secondaries vehicle last week couldn't come at a more opportune time.
The fund has been able to take advantage of LPs over-allocated to the asset class because of an fundraising market, global head of secondaries Harold Hope told us.
The reorganisation of its management comes amid the recent €1.35bn closing of its third fund, €150m short of target.
The firm has now raised A$550m for its open-end renewables platform since launching a year ago, with plans to build a portfolio worth A$10bn.
The Infrastructure Fund is facing a large redemption queue as merging Australian superfunds seek to rebalance portfolios.
Blackstone Green Private Credit III – the biggest energy transition credit fund to date – has an appetite for fossil fuel investments such as LNG, straddling energy transition and affordability goals.
Fund of funds manager TRUE Infrastructure is seeking A$20m from investors to fund the acquisitions of AustralianSuper’s stakes.