BlackRock Real Assets has raised 鈧�186m for its third multi-manager infrastructure fund.
The first close of the Global Infrastructure Solutions 3 (GIS 3) attracted investors from Switzerland, Germany and Liechtenstein.
GIS 3 is targeting a portfolio of funds and co-investments in Europe, North America and what it describes as growth markets.
The euro-denominated, closed-ended fund has an 18-month capital raising period and a 15-year life.
Andrew Stephens, head of UK intermediated institutional clients at BlackRock, said: 鈥淩elative to other investors, a natural advantage for pension funds is their greater ability to hold less liquid assets such as infrastructure, due to their long term investment horizons.鈥�
Infrastructure spending is, he said, a key focus for a number of governments, both in the UK and globally.
鈥淒emand for capital is set to increase, providing significant deployment opportunities for investors,鈥� Stephens said.
Eight investments have either closed or are in closing.
