Macquarie Asset Management (MAM) has closed its Green Energy Transition Solutions (MGETS) fund with total commitments exceeding $3 billion, including co-investment capital. The fund, which surpassed its original $2 billion target, marks Macquarie’s first dedicated platform focused on next-generation energy transition opportunities.
The fund raised over $2.4 billion in commitments alongside an additional $647 million in co-investment pledges, bringing the total to more than $3 billion. One notable investment includes $405 million allocated to Vertelo, a fleet electrification initiative in India.
According to Macquarie, the MGETS fund is designed to invest beyond traditional renewable energy sectors. Areas of focus include battery storage, distributed energy, clean transportation, renewable fuels, carbon capture, and circular economy technologies.
The fund has already deployed more than 65% of its capital across 12 investments. Portfolio companies include Eku Energy, Calibrant Energy, sustainable aviation fuel producer SkyNRG, and French electric vehicle battery manufacturer Verkor.
“The significant investment requirements of the global energy transition present an opportunity to build the infrastructure of tomorrow while delivering attractive risk-adjusted returns for our investors,” said Chris Archer, executive director at MAM Green Investments.
Macquarie noted that investors in the fund span pension funds, insurance firms, sovereign wealth funds, and asset managers across EMEA, Asia-Pacific, and the Americas.
