BlackRock Alternatives has announced a final close for its Private Infrastructure Opportunities European Long Term Investment Fund (PI ELTIF) with EUR415 million (US$436 million) which exceeds the fundraising target.

Private Infrastructure Opportunities European Long Term Investment Fund (PI ELTIF) will invest in global private infrastructure projects that develop the real economy and seek to provide a source of income in the long term. The fund focuses on investments in digitalization, decarbonization and decentralization. The fund targets sectors such as transport and logistics, electricity and utilities, energy, telecommunications, ecological and social infrastructure. The closing of PI ELTIF is based on the closing of ELTIF BlackRock Private Equity Opportunities in April 2021.

PI ELTIF focuses on direct co-investment opportunities, allowing individual clients to invest alongside a wide range of institutional infrastructure managers. PI ELTIF plans to invest in operating assets with long-term contractual income streams. BlackRock Alternatives plans to bring to market two additional private-equity-focused ELTIF strategies slated for launch in 2023.