ALTÉRRA, one of the world’s largest private investment vehicles for climate finance, and BBVA, a leading global financial institution, today announced a new partnership, with BBVA committing $250 million as a proposed strategic LP to a climate co-investment vehicle that Alterra 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 ADGM² and consolidates existing co-investments from ALTÉRRA Acceleration³ 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 Decarbonization, Climate Tech and Sustainable Living. Its scope will include North America, Latin America and Europe in addition to other Growth Markets.
H.E. Dr. Sultan Al Jaber, Chairman, Alterra, and Carlos Torres Vila, Chair of BBVA, announced the strategic partnership during Abu Dhabi Sustainability Week.
H.E. Dr. Sultan Al Jaber, Chairman, Alterra commented: “This fund marks a new chapter for ALTÉRRA as we move into our next stage of growth and deepen our ability to mobilize and deploy global capital toward high-impact investments. 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.”
Carlos Torres Vila, Chair of BBVA 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. We see ALTÉRRA as a long-term partner to mobilize capital at scale, and this partnership reflects our confidence in their climate-focused strategy and track record.”