The collaboration strengthens global climate investment flows, positions Abu Dhabi as a leading climate finance hub, and supports large-scale deployment of sustainable infrastructure and technologies
ALTÉRRA, one of the world’s largest private investment platforms dedicated to climate finance, has entered into a strategic partnership with BBVA, a leading global financial institution, with BBVA committing $250 million as a proposed strategic limited partner to a new climate co-investment vehicle that ALTÉRRA intends to launch, subject to regulatory approvals.
The partnership reflects BBVA’s confidence in ALTÉRRA’s differentiated investment strategy and institutional capabilities, while aligning closely with the bank’s ambition to accelerate its sustainable finance agenda and expand its footprint in the Middle East.
Once launched and approved, the new fund will be domiciled in Abu Dhabi Global Market (ADGM) and will consolidate existing co-investments from ALTÉRRA Acceleration into a dedicated investment structure managed by ALTÉRRA. The initiative represents a significant milestone in ALTÉRRA’s evolution, marking its transition into a new phase of global growth.
The ALTÉRRA Opportunity Fund will pursue a diversified global investment strategy spanning climate-aligned infrastructure, private equity, and private credit. The approach is designed to deliver strong risk-adjusted financial returns while generating measurable positive climate impact across both advanced and emerging markets.
Investment focus areas will include Energy Transition, Industrial Decarbonisation, Climate Technology, and Sustainable Living. Geographically, the fund will target opportunities across North America, Latin America, Europe, and other high-growth markets.
The strategic partnership was announced during Abu Dhabi Sustainability Week, underscoring the Emirate’s growing role as a global hub for climate finance and sustainable investment.
Commenting on the announcement, Dr. Sultan Al Jaber, Chairman of ALTÉRRA, said the fund represents a defining moment for the platform. “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. Our partnership with BBVA strengthens international collaboration in clean energy, sustainable infrastructure, and climate technologies, enabling long-term value creation.”
Carlos Torres Vila, Chair of BBVA, noted that the partnership supports the bank’s global sustainability strategy. “This collaboration aligns with BBVA’s objective of making sustainability a key driver of differential growth worldwide, while deepening our presence in fast-growing climate finance hubs such as Abu Dhabi,” he said.
BBVA has maintained a presence in Abu Dhabi since 2013 through its Representative Office, reflecting its long-term interest in the Middle East as a strategic region for its Corporate and Investment Banking activities. The region’s accelerating economic transformation and rising influence in global markets have further reinforced its importance to the bank.
This strategic focus was recently strengthened following In-Principle Approval from ADGM’s Financial Services Regulatory Authority for the establishment of a BBVA branch in Abu Dhabi. The planned branch will enable BBVA to expand its wholesale banking services in the region and better support corporate and institutional clients by connecting them with the bank’s global capabilities.
By becoming an anchor investor in ALTÉRRA’s new climate fund, BBVA deepens its relationship with one of the Middle East’s most influential climate investment platforms, while advancing its ambition to channel €700 billion in sustainable business between 2025 and 2029. The bank had already achieved its previous €300 billion sustainability target one year ahead of schedule.
In addition to the proposed $250 million investment in ALTÉRRA, BBVA has invested approximately €300 million in global climate funds focused on decarbonisation, reinforcing its long-term commitment to financing the transition toward a low-carbon economy.
