{"id":87905,"date":"2023-12-18T00:00:00","date_gmt":"2023-12-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/uae-caps-its-return-from-alterra-to-attract-more-investors\/"},"modified":"2023-12-18T00:00:00","modified_gmt":"2023-12-18T00:00:00","slug":"uae-caps-its-return-from-alterra-to-attract-more-investors","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2023\/12\/18\/uae-caps-its-return-from-alterra-to-attract-more-investors\/","title":{"rendered":"UAE caps its return from Alterra to attract more investors"},"content":{"rendered":"

UAE caps its returns from Alterra: <\/strong>The UAE has struck an agreement with BlackRock<\/a> and alternative asset firm TPG<\/a> to retain a lower percentage of the proceeds from the USD 30 bn climate fund Alterra with the aim of drawing in more investors to the ESG investment vehicle, Bloomberg<\/a> reported, citing a person familiar with the terms of the agreement. With the UAE capping its own returns from the fund, other investors will receive about 5% of additional returns, raising their overall return rate from the fund. <\/p>\n

What\u2019s going to be affected?<\/strong> While this arrangement will reportedly only apply to the USD 5 bn catalytic investment fund Alterra Transformation, the UAE\u2019s cap on its own returns will also apply to some funds under Alterra and will see the UAE receive returns that make up about 5% of each fund\u2019s total capital. Moreover, the USD 25 bn fund earmarked for \u201cclimate investments at scale\u201d \u2014 also under Alterra \u2014 will not be subject to any cap on the returns.<\/p>\n

The arrangement is a \u201creturn enhancement\u201d to attract more investor money to climate finance<\/strong>, TPG Chairman Jim Coulter said, describing Alterra\u2019s financing structure as \u201cpretty revolutionary.\u201d However, Coulter did not disclose TPG\u2019s own return percentage from its Alterra funds<\/a>. The goal of Alterra\u2019s finance and return structure is to \u201cachieve capital mobilization at scale and in a way that is replicable,\u201d the Alterra spokesperson told Bloomberg, explaining that this design requires \u201cprivate sector market model that targets climate impact as well as positive returns, and can leverage a wide funnel of deployment channels.\u201d<\/p>\n

About Alterra: <\/strong>The UAE launched Alterra<\/a>, a USD 30 bn blended finance vehicle during COP28 to improve access to climate funding for the Global South. The venture \u2014 backed by Chimera Investment-backed Lunate Capital \u2014 aims to mobilize USD 250 bn in green investments by 2030. Alterra \u2014 along with BlackRock, Brookfield, and TPG \u2014 have committed USD 6.5 bn to climate-dedicated funds, some of which are earmarked for 6 GW worth of renewables in India, 1.2 GW of which will start operation in 2025. <\/p>\n","protected":false},"excerpt":{"rendered":"

The UAE aims to attract more private investors to invest in Alterra<\/p>\n","protected":false},"author":1,"featured_media":87906,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2207],"tags":[522,523,356,7,525,524],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-climate-finance","tag-alterra","tag-blackrock","tag-climate-finance","tag-enterpriseam-uae","tag-esg","tag-tpg","wpautop","entry"],"acf":{"mongo_id":"b219913b-265e-4a65-b462-708574a53bd9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/4\/184.jpg","photo_position":"below","homepage_title":"","full_issue_title":"UAE caps its return from Alterra to attract more investors","related_issue":[87889],"teaser":"The UAE aims to attract more private investors to invest in Alterra","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.47684777-970b-4604-8e1d-a43958d7cfb8.mp3"},"yoast_head":"\nUAE caps its return from Alterra to attract more investors - 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