Macquarie Asset Management has announced the final close of its Macquarie Green Energy Transition Solutions (MGETS) fund, securing more than US$3 billion in total commitments, including co-investment capital.
The vehicle is Macquarie’s first dedicated energy transition fund, targeting sectors beyond mature renewables. Investments will focus on proven technologies and infrastructure supporting decarbonisation, including energy storage, distributed energy, renewable fuels, clean transport, carbon capture and the circular economy.
MGETS has already committed more than 65% of its capital across 12 investments spanning multiple geographies and technologies. Its portfolio includes Eku Energy, a battery storage developer in Europe and Asia-Pacific; SkyNRG, a sustainable aviation fuel company; Calibrant Energy, which delivers distributed energy solutions for industrial and commercial clients in North America; and Verkor, a French electric vehicle battery manufacturer.
The fund raised over US$2.4 billion in direct commitments, alongside US$647 million in co-investments to back portfolio companies. Demand exceeded its US$2 billion target, with backing from a broad range of pension funds, insurers, sovereign wealth funds and asset managers across EMEA, APAC and the Americas.
Among the co-investments, US$405 million was secured for Vertelo, a fleet electrification platform in India, through a Macquarie-managed investment vehicle. Of this, US$133 million came from MGETS as its twelfth investment. The transaction combined commercial and concessional capital, demonstrating Macquarie’s ability to mobilise finance at scale in emerging markets.
“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 Macquarie Asset Management Green Investments. “We are proud to support the growth and de-risking of businesses and bring them to scale.”
Macquarie has been active in green investment for nearly two decades, with its first renewable energy deals dating back to 2005. Today, its Green Investment team manages US$17 billion in assets across more than 30 portfolio companies worldwide.
