BlackRock Inc. has announced a strategic relationship agreement to launch a new renewable power investment group. Under the agreement, a number of key renewable power principals from NTR PLC will join the BlackRock alternative investors (BAI) investment platform, which currently manages over $110 billion of assets across a range of alternative investment strategies.
The new renewable power investment team will combine the international track record of NTR in renewable power infrastructure development with the global fund management and distribution capabilities of BlackRock, according to the companies.
As part of the strategic relationship between the two companies, NTR will provide market perspective and insights to the renewable power investment team and will also retain an economic interest in an identified set of products on the new investment platform. Current and past renewable energy infrastructure activities of NTR have included the development of over 4GW of wind and solar projects in the U.S. and Europe.
As part of the strategic arrangement, NTR's CEO Jim Barry will take up the role of chief investment officer of the renewable power investment team within BAI with responsibility for establishing and developing the platform.
SOURCE: BlackRock Inc.