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Stock impact report

UAE's $30 Billion Energy-Transition Fund Struggles to Spend Cash [Yahoo! Finance Canada]

Blackrock Health Sciences Trust (BME) 
Most Read from Bloomberg The UAE unveiled plans last December to put $30 billion into the new fund, Alterra, with a goal of mobilizing $250 billion by the end of the decade. So far, Alterra has committed $6.5 billion to seven strategies managed by BlackRock Inc., Brookfield Asset Management Ltd. and TPG Inc. Actual funds spent, however, are significantly lower than that, according to its chief executive officer. Alterra is trying to create “solutions that are sustainable and scalable,” CEO Majid Al Suwaidi said in an interview in Azerbaijan. “That's the only way we're going to really grow these economies.” For now, though, there's a lack of investible deals in the energy transition, particularly in developing countries and emerging markets, Al Suwaidi said. He declined to say exactly how much Alterra has spent to date. The shortage of so-called bankable climate projects has emerged as a theme within private finance that threatens to slow investment. Meanwhile, representatives Show less Read more
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