KKR secures commitment from UAE's $30bn ALTÉRRA for its global climate transition strategy

The financial terms of the commitment were not disclosed.

ALTÉRRA, launched at COP28 with a $30bn commitment from the UAE, operates as a blended finance vehicle designed to attract private capital into the energy transition through de-risking structures. 

It has previously announced partnerships with BlackRock, Brookfield Asset Management, and TPG. The KKR commitment adds another tier-one manager to that roster, with the vehicle targeting $250bn in mobilised climate finance by 2030, much of it directed at developing markets.

KKR’s Global Climate Transition Strategy, co-managed by Charlie Gailliot and Emmanuel Lagarrigue, invests across renewables and storage, electrification, energy efficiency, sustainable fuels, waste, and circular economy solutions. The firm brings more than 15 years of infrastructure investing experience and $100bn in infrastructure assets under management, having deployed over $44bn into climate and environmental sustainability investments since 2011. 

The strategy has already made seven investments, including UK-based transport electrification specialist Zenobē, German energy services provider EGC, solar and storage developer Avantus in the US, and industrial decarbonisation platform IGNIS P2X.

“We see a significant opportunity to invest in solutions that enhance energy security, improve affordability, and ensure reliability, while supporting decarbonization across the real economy,” said Charlie Gailliot and Emmanuel Lagarrigue, Co-Heads of KKR’s Global Climate Transition Strategy. “By combining ALTÉRRA’s global perspective with KKR’s experience investing across climate and infrastructure, we are well positioned to scale proven technologies and build more resilient, efficient energy systems for the long term.

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