Macquarie Asset Management today announced that it has raised more than $3 billion in fund and co-investment commitments for its Macquarie Green Energy Transition Solutions (MGETS) strategy, its first energy transition-focused fund aimed at investing in opportunities beyond renewables.
At it’s final close, the fund significantly surpassed its initial target size of $2 billion. Commitments raised for MGETS include more than $2.4 billion of fund commitments, and an additional $647 of committed co-investment to portfolio companies.
Macquarie’s MGETS fund invests in companies that leverage proven technologies and infrastructure that provide the solutions to decarbonize energy, with investments targeting sectors ranging from energy storage, distributed energy, and renewable fuels, to clean transportation, carbon capture, and circular economy.
According to Macquarie, more than 65% of MGETS has already been committed to investments, and the fund has closed 12 investments globally to date, including UK-based battery energy storage platform Eku Energy, Amsterdam-based sustainable aviation fuel producer SkyNRG, and French EV battery manufacturer Verkor.
Chris Archer, Executive Director, MAM Green Investments, said:
“The significant investment requirements of the global energy transition present an opportunity to build the infrastructure of tomorrow while delivering attractive risk-adjusted returns for our investors. Key to this will be building out proven technical solutions that are now becoming more widely deployed.”
