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Blackrock closes global renewable fund - almost double of its initial target

The world's largest asset manager has raised USD 4.8bn to invest in renewable power assets around the world.

Photo: SHANNON STAPLETON/Reuters / X90052

Blackrock has raised USD 4.8bn for a new fund to invest in renewable power assets around the world - almost double its initial target.

The company's real assets division closed on its third global renewable power fund, drawing money from over 100 institutional investors. It’s the latest sign of increasing interest from investors to buy into the surging green power sector.

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