UAE’s $30 Billion Alterra Fund Readies Next Round of Deals

A $30 billion fund launched by the United Arab Emirates with the declared goal of funneling billions of dollars into climate finance is readying its next round of investments.

Alterra, which struck deals worth $6.5 billion with BlackRock Inc., TPG Inc. and Brookfield Asset Management Ltd. late last year, is now “actively planning the next phase of allocations,” Chief Executive Officer Majid Al Suwaidi said in an interview. He declined to identify the money managers involved in the talks or specify when an announcement might come.