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BlackRock and Temasek's Decarbonization Partners announced the closing of their inaugural fund, Decarbonization Partners Fund I, with a staggering $1.4 billion raised, surpassing their initial $1 billion target. Launched in 2022, Decarbonization Partners aims to invest in companies driving the transition to a net-zero economy by 2050. With offices in major global hubs, including New York, San Francisco, Singapore, London, Paris, and Houston, the team has expanded to over 25 members. Larry Fink, BlackRock's Chairman and CEO, emphasized the demand for energy infrastructure and the fund's mission to identify transformative climate technology investments. The partnership initially committed $600 million, with additional support from over 30 institutional investors worldwide. Temasek CEO Dilhan Pillay highlighted the importance of collaborative efforts in addressing the climate crisis. The fund, classified as Article 9 under the EU's SFDR regulation, focuses on companies with scalable decarbonization technologies. With investments in seven companies spanning various decarbonization sectors, including sustainable materials and clean hydrogen, Decarbonization Partners is poised to accelerate the transition to a sustainable future. Dr. Meghan Sharp, Global Head of Decarbonization Partners, emphasized the success of the fundraise and the team's ability to execute its strategy effectively.

Original article posted on April 25, 2024