Harrison Street planning to launch $750m energy transition fund

US investment manager Harrison Street is planning to bring its first-ever energy transition fund to the global market, with a reported target of $750 million.

The vehicle's first close is expected during the fourth quarter of this year, while a final close timeline has not been set yet for the fund, which is aiming for a value-add strategy with returns in the low to mid-teens, according to an Infrastructure Investor report. 

The investment vehicle's portfolio will primarily comprise of renewable energy infrastructure assets, reportedly over 50 per cent. 

The remaining portfolio is expected to consist of heating and cooling assets, EV charging infrastructure, carbon capture, renewable fuels and microgrids. 

Harrison Street reportedly declined to comment or confirm the plans.