BlackRock, the American global investment management corporation based in New York City, has recently announced that it will launch a new private equity infrastructure fund targeting Latin America before the end of the year.
The size of the fund has not been disclosed yet although BlackRock's funds usually target long-term inflation-linked income with investors who can lock up their initial investments for long term periods.
According to Reuters, since BlackRock's acquisition of Mexican investment company Infraestructura Institucional last year, the company has committed US$1 billion by investors and plans to invest broadly across the energy, utility, transportation and communication infrastructure sectors in Latin America, especially in Mexico.
BlackRock started its infrastructure unit in 2011, which provides investors with infrastructure equity and debt investments via funds, co-investments, managed accounts and multi-manager strategies, and currently has US$9 billion in invested and committed infrastructure assets and capital.
More recently, the unit has been known for specializing in renewable-energy projects specially since it hiredManuel Sanchez Ortega, who left his position as CEO of Abengoa and joined the New York-based firm's infrastructure investment group.
In February, we reported that the firm raised $275 million from Asian and European institutional investors in a first close for its European renewables fund, Renewable Income Europe.