Macquarie Asset Management has announced the final close of its Macquarie Green Energy Transition Solutions fund, known as MGETS, with over $3 billion in total commitments from the fund and related co-investments. This is Macquarie’s first dedicated energy transition fund aimed at opportunities that go beyond traditional renewable energy projects.
MGETS focuses on companies that utilize proven technologies and infrastructure to help decarbonize energy systems across the economy. Its target areas include energy storage, distributed energy, renewable fuels, clean transportation, carbon capture, and circular economy solutions. The fund is already well advanced in building its portfolio, with 12 completed investments and more than 65 percent of its capital committed. Current portfolio companies include Eku Energy, which develops battery storage projects in Europe and the Asia-Pacific region; SkyNRG, a global producer of sustainable aviation fuel; Calibrant Energy, which provides distributed energy solutions for industrial and commercial clients in North America; and Verkor, a French manufacturer of electric vehicle batteries.
The fund has raised over $2.4 billion in commitments, along with an additional $647 million in co-investments for its portfolio companies. This capital will allow MGETS to pursue large-scale opportunities in the energy transition and make follow-on investments in existing holdings. The fund exceeded its original $2 billion target, attracting a diverse group of global investors, including pension funds, insurance companies, sovereign wealth funds, and asset managers from across Europe, the Middle East, Africa, Asia-Pacific, and the Americas.
One notable co-investment involves Vertelo, a fleet electrification solutions platform in India. A dedicated Macquarie-managed investment vehicle for Vertelo secured $405 million in commitments, including about $133 million from MGETS. This transaction combines commercial and concessional capital, showcasing Macquarie’s ability to mobilize large-scale investment in emerging markets through innovative partnerships.
Macquarie has been active in climate-focused investments for nearly two decades, with its first renewable energy projects dating back to 2005. Today, its Green Investment team manages $17 billion in assets across more than 30 portfolio companies worldwide, working to deliver large-scale solutions that transform energy systems while ensuring reliable energy for communities and businesses.
KEY QUOTES:
“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. Key to this will be building out proven technical solutions that are now becoming more widely deployed. Drawing on our global asset management expertise and green investment capabilities, we are proud to be able support the growth and de-risking of businesses and bring them to scale. We are delighted to reach the final close of MGETS and thank our investors for their continued confidence and support.”
Chris Archer, Executive Director, MAM Green Investments
