BlackRock has announced that it will launch an infrastructure strategy focused on global energy transition.

Blackrock says the fund will invest in the megatrends of energy transition and energy security, as well as digital and community infrastructure, sustainable mobility, and the circular economy. It will seek to deploy capital into businesses such as utilities and end-to-end renewable energy infrastructure players, as well as assets such as data centers, grid digitization technologies, battery storage systems, and natural gas storage and transport facilities, where adaptable to incorporate hydrogen. Over half of the strategy will be allocated to Europe initially.

“BlackRock is a leader in the energy transition, having mobilized over $55 billion of investments across our infrastructure strategies since their inception,” said Anne Valentine Andrews, Global Head of BlackRock Real Assets. “Our ability to convene companies, governments and institutional clients means we are uniquely placed to deploy capital from investors globally into real assets that drive the energy transition and have a positive impact on local communities and economies.”