Macquarie Asset Management has announced the successful raising of over $3 billion in fund and co-investment commitments for its Macquarie Green Energy Transition Solutions (MGETS) strategy. This marks the firm’s inaugural energy transition-focused fund, designed to invest in opportunities extending beyond traditional renewables. At its final close, the fund exceeded its initial target size of $2 billion. The commitments include more than $2.4 billion in fund commitments, along with an additional $647 million in co-investment directed towards portfolio companies.
The MGETS fund is dedicated to investing in enterprises that utilise proven technologies and infrastructure aimed at decarbonising energy. Investments are directed towards sectors such as energy storage, distributed energy, renewable fuels, clean transportation, carbon capture, and the circular economy.
Macquarie reports that over 65% of MGETS has already been allocated to investments, with the fund having completed 12 investments globally. These include the 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 of MAM Green Investments, stated: “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.”
