BlackRock has launched a new evergreen private markets platform for investors in Europe, the Middle East and Asia Pacific.
It is the first private markets platform to provide wealth clients with access to institutional-quality private assets under the European Long-Term Investment Fund (ELTIF) 2.0 framework.
The platform has already launched its first two funds, one in private equity and another focusing on multi-alternatives. BlackRock said that it plans to expand its product range to include private debt, as well as infrastructure and real estate in due course.
“Our goal is to revolutionise access to private markets for wealth clients,” said Stephen Cohen, chief product officer, BlackRock.
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“By launching this evergreen platform under the ELTIF 2.0 framework, we are breaking new ground in making institutional-quality alternatives accessible to a wider range of investors.
“This demonstrates our commitment to staying ahead of clients’ investment needs with innovative solutions.”
According to Preqin data, the global alternatives market is forecast to exceed $30tn (£23.57tn) by 2030, with this growth fuelled by yield-seeking wealth investors.
Recent research from the BlackRock Investment Institute has suggested that some investors might benefit from portfolio allocations of up to 20 per cent in private markets.
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The platform will combine the Luxembourg Part II SICAV structure with the ELTIF 2.0 wrapper, creating open-ended strategies will be accessible to a much broader range of wealth investors, including the mass affluent. It offers liquidity at periodic intervals, with the 20 per cent liquidity sleeve in each fund managed by BlackRock.
“We are excited to make alternatives much more accessible to a wider range of investors through the launch of our evergreen private markets platform, expanding our range of ELTIFs under the new ELTIF 2.0 framework,” said Fabio Osta, head of the alternatives specialists team in EMEA Wealth, BlackRock.
“Building on BlackRock’s extensive track-record of managing risk and investing across multiple evergreen funds, these launches underscore our ability to bring innovative, client-focused solutions to market. As the fastest-growing segment in asset management, we are well positioned to revolutionise private markets investing to help more people invest better and experience financial wellbeing.”
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