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Private Debt

10 private debt funds tackling the energy transition

A growing slate of firms has raised new private debt funds dedicated to supporting the climate transition.

Private debt firms have been growing their presence in clean energy investments in recent years, underscoring their greater interest in capitalizing on the shift to a low-carbon economy.

BlackRock‘s Climate Transition-Oriented Private Debt Fund, unveiled last week, epitomizes the increased efforts by private debt providers to incorporate sustainability objectives into their investment processes.

In the last few years, more private debt managers have rolled out dedicated funds to finance projects and companies that seek to reduce carbon emissions and cater to institutional investors’ growing appetite for opportunities that help combat pressing societal challenges.

Europe is home to most of the pure-play private debt managers focused on climate investments, but New York-based Blackstone has taken the lead in putting climate change at the forefront of its investment decisions.

The largest fund of this type, according to PitchBook data, is the latest vintage of Blackstone Green Private Credit Fund—a $7.1 billion vehicle closed in August. The fund is operated under Blackstone Credit’s Sustainable Resources Platform, which focuses on lending to renewable energy, infrastructure and energy transition markets.

Here are the 10 largest private debt funds closed since the beginning of 2020 with a focus on climate transition or including it as a significant part of their investment mandates.

 


Featured image by Daniel Bosma/Getty Images

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