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BlackRock to acquire FREIF, get access to $3.7 billion in capital

Staff Writer |
BlackRock will acquire First Reserve Energy Infrastructure Funds (FREIF), the equity infrastructure franchise of First Reserve, a global private equity firm exclusively focused on energy.

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The Energy Infrastructure team will join BlackRock’s Infrastructure Investment platform.

The Energy Infrastructure team at First Reserve manages approximately $3.7 billion in committed capital across two funds with a global investment footprint, including investments in North America, Latin America, Europe and Southeast Asia.

Led by Mark Florian, the team has announced or closed 21 portfolio companies since 2010, almost all negotiated on an exclusive basis.

The global team of 37 investment professionals and support staff will join BlackRock when the deal closes, providing for continuity of strategy and portfolio management.

Governments and businesses around the world have become increasingly aware of the need to invest in infrastructure and the role that sophisticated investors can play in the development process.

This transaction enables BlackRock to better connect its clients with energy infrastructure projects that can provide income generation, diversification and inflation protection.

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