RTTNews | Apr 12, 2021 11:36PM EDT

23:36 Monday, April 12, 2021 (RTTNews.com) - BlackRock Inc. (BLK) and Temasek said that they agreed to form a partnership called Decarbonization Partners.

The partnership will launch a series of late stage venture capital and early growth private equity investment funds that will focus on advancing decarbonization solutions to accelerate global efforts to achieve a net zero economy by 2050.

The funds will focus on early stage growth companies in areas including emerging fuel sources, grid solutions, battery storage, and electric and autonomous vehicle technologies as well as in building and manufacturing sectors.

The funds will be staffed by employees from both firms, as well as a professional and dedicated team recruited to source and undertake investments and manage its portfolio.

BlackRock and Temasek plans to commit a combined US$600 million in initial capital to invest in multiple funds launched by the partnership. The funds will also raise third-party capital from investors who are committed to achieving a net zero world while also seeking to obtain long-term sustainable financial returns.

Decarbonization Partners has a fundraising target of US$1 billion for its first fund, including capital from Temasek and BlackRock.

Read the original article on RTTNews ( https://www.rttnews.com/3184299/temasek-blackrock-form-decarbonization-investment-partnership.aspx)

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