Gyotong Asset Management Attracts $200 Billion Investment from BlackRock GRP
[Asia Economy Reporter Hwang Junho] Korea Transportation Asset Management announced on the 22nd that it has received an investment of USD 185 million (approximately KRW 200 billion) from five domestic institutional investors and decided to invest in a fund managed by the US asset management company BlackRock.
This fund is the GRP (Global Renewable Power) Fund No. 3, a blind fund whose investment destinations will be determined later. The fund invests in ESG-related renewable energy assets such as solar and wind power in the US, Europe, and Asian OECD countries. Institutional investors made a proactive investment decision this year following the start of the new climate regime under the Paris Agreement.
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Korea Transportation Asset Management, which has mainly managed ship and aircraft funds, established an infrastructure investment team last year and formed an infrastructure fund worth USD 800 million. Subsequently, it raised USD 50 million in overseas acquisition financing earlier this year.
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