Alterra, a $30 billion UAE-based fund, is successfully deploying capital to address the climate finance gap, particularly in the Global South.
The fund has achieved significant capital mobilization, with its 'Acceleration' and 'Transformation' funds achieving 9x and 4x multipliers respectively, far exceeding initial expectations.
With a target to mobilize $250 billion, Alterra is partnering with major asset managers like Brookfield, TPG, and BlackRock, and is increasingly seen as a 'seal of approval' for climate projects.
Alterra's investment thesis is broad, covering four pillars: clean energy (including nuclear), industrial decarbonization, climate tech, and sustainable living, moving beyond just traditional renewables.
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Concerns Raised
The historical failure of climate finance to deploy at scale in the Global South.
The persistent, though often misplaced, perception of high risk in emerging market climate projects.
Opportunities Identified
Massive energy demand growth, supercharged by AI, creating a supply gap that clean energy can fill.
Unlocking vast, untapped investment potential in the Global South by using catalytic capital to de-risk projects.
Investing across a broad spectrum of climate solutions beyond renewables, including industrial efficiency and enabling software.
Leveraging the fund's 'seal of approval' to attract significant co-investment from the private sector.