emirates7 - - ALTÉRRA, one of the world’s largest private investment vehicles for climate finance, and BBVA, a leading global financial institution, announced a new partnership, with BBVA committing $250 million as a proposed strategic LP to a climate co-investment vehicle that ALTÉRRA intends to launch subject to regulatory approvals.
This partnership reflects BBVA’s recognition of and interest in ALTÉRRA’s differentiated strategy and capabilities and supports BBVA’s goals and aspiration to advance its sustainable finance strategy and its growing interest in the Middle East.
The Fund, once launched and approved, will be domiciled in ADGM and consolidates existing co-investments from ALTÉRRA Acceleration into a dedicated structure managed by ALTÉRRA and represents a pivotal step in ALTÉRRA’s transition into its next phase of growth.
ALTÉRRA Opportunity Fund will pursue a diversified global investment strategy across climate-aligned infrastructure, private equity and private credit. The strategy reflects ALTÉRRA’s investment approach seeking superior risk-adjusted returns and positive climate impact in both advanced and emerging markets.
The Fund will invest in Climate investments across Energy Transition, Industrial Decarbonisation, Climate Tech and Sustainable Living. Its scope will include North America, Latin America and Europe in addition to other Growth Markets.
Dr Sultan Al Jaber, Chairman of ALTÉRRA, and Carlos Torres Vila, Chair of BBVA, announced the strategic partnership during Abu Dhabi Sustainability Week.
“This fund marks a new chapter for ALTÉRRA as we move into our next stage of growth and deepen our ability to mobilise and deploy global capital toward high-impact investments," Dr Al Jaber said. "Our partnership with BBVA marks an important step in strengthening global collaboration in clean energy, sustainable infrastructure and technology investments, allowing us to continue to back high-quality opportunities delivering long-term value.”
Vila stated, “This partnership aligns with BBVA’s strategy to make sustainability a key driver of differential growth globally and to deepen our presence in fast-growing climate finance hubs such as Abu Dhabi.”
BBVA has maintained a long-standing presence in Abu Dhabi through its Representative Office, established in 2013, reflecting the bank’s interest in the Middle East as a strategic region for its Corporate & Investment Banking activity.
The region’s growing importance in global markets and its economic transformation make it an important area for BBVA as it seeks to accompany institutional clients and corporations with a global footprint.
This interest has now taken a significant step forward with the recent In-Principle Approval granted by ADGM’s Financial Services Regulatory Authority for the opening of a new BBVA branch in Abu Dhabi that will enable the bank to expand its wholesale banking offering in the region and strengthen its ability to serve corporate and institutional clients locally, connecting them with the capabilities of BBVA’s international network.
By becoming an anchor investor in ALTÉRRA’s new climate fund, BBVA deepens its relationship with one of the Middle East’s most influential investors, supporting the bank’s strategy to broaden its presence and visibility in the region and deliver on its sustainability ambitions.
BBVA aims to channel €700 billion in sustainable business between 2025 and 2029, after having met its previous €300 billion target one year in advance.
In addition to this $250 million investment in Alterra, the bank has so far invested approximately €300 million in climate funds focused on decarbonisation, as part of its ongoing global climate strategy.
This partnership reflects BBVA’s recognition of and interest in ALTÉRRA’s differentiated strategy and capabilities and supports BBVA’s goals and aspiration to advance its sustainable finance strategy and its growing interest in the Middle East.
The Fund, once launched and approved, will be domiciled in ADGM and consolidates existing co-investments from ALTÉRRA Acceleration into a dedicated structure managed by ALTÉRRA and represents a pivotal step in ALTÉRRA’s transition into its next phase of growth.
ALTÉRRA Opportunity Fund will pursue a diversified global investment strategy across climate-aligned infrastructure, private equity and private credit. The strategy reflects ALTÉRRA’s investment approach seeking superior risk-adjusted returns and positive climate impact in both advanced and emerging markets.
The Fund will invest in Climate investments across Energy Transition, Industrial Decarbonisation, Climate Tech and Sustainable Living. Its scope will include North America, Latin America and Europe in addition to other Growth Markets.
Dr Sultan Al Jaber, Chairman of ALTÉRRA, and Carlos Torres Vila, Chair of BBVA, announced the strategic partnership during Abu Dhabi Sustainability Week.
“This fund marks a new chapter for ALTÉRRA as we move into our next stage of growth and deepen our ability to mobilise and deploy global capital toward high-impact investments," Dr Al Jaber said. "Our partnership with BBVA marks an important step in strengthening global collaboration in clean energy, sustainable infrastructure and technology investments, allowing us to continue to back high-quality opportunities delivering long-term value.”
Vila stated, “This partnership aligns with BBVA’s strategy to make sustainability a key driver of differential growth globally and to deepen our presence in fast-growing climate finance hubs such as Abu Dhabi.”
BBVA has maintained a long-standing presence in Abu Dhabi through its Representative Office, established in 2013, reflecting the bank’s interest in the Middle East as a strategic region for its Corporate & Investment Banking activity.
The region’s growing importance in global markets and its economic transformation make it an important area for BBVA as it seeks to accompany institutional clients and corporations with a global footprint.
This interest has now taken a significant step forward with the recent In-Principle Approval granted by ADGM’s Financial Services Regulatory Authority for the opening of a new BBVA branch in Abu Dhabi that will enable the bank to expand its wholesale banking offering in the region and strengthen its ability to serve corporate and institutional clients locally, connecting them with the capabilities of BBVA’s international network.
By becoming an anchor investor in ALTÉRRA’s new climate fund, BBVA deepens its relationship with one of the Middle East’s most influential investors, supporting the bank’s strategy to broaden its presence and visibility in the region and deliver on its sustainability ambitions.
BBVA aims to channel €700 billion in sustainable business between 2025 and 2029, after having met its previous €300 billion target one year in advance.
In addition to this $250 million investment in Alterra, the bank has so far invested approximately €300 million in climate funds focused on decarbonisation, as part of its ongoing global climate strategy.